Middletown Approves Bond Issue The $3.1 Million Will Be Used For Property Improvements. Some Residents Have Objected.

Posted: December 10, 1995

MIDDLETOWN — The township Board of Supervisors has unanimously approved a $3.1 million bond issue for capital improvements, despite objections from local residents.

Fixing the police station roof and restoring the old Drum Farm at the new park on Langhorne-Yardley Road were just two reasons the board gave for approving the general obligation, 20-year bond.

Some residents, including Jules Hyman, said the board should tighten the township's belt and show some fiscal responsibility.

Hyman read a letter at the Tuesday board meeting, asking the supervisors not to approve the bond issue.

"We urge the supervisors to demonstrate fiscal responsibility. Eliminate capital improvements for (the) irrigation system for the Middletown golf course; eliminate money for building improvements at the Langhorne-Yardley sports complex; and eliminate money for field lights at Twin Oaks Park."

Hyman said he does not object to fixing the police station roof.

"Let's not act like Vanderbilts when we're not," said one woman to the supervisors.

Township Finance Director Julie A. Jakubec said the debt payment for the bond issue is already in the 1996 budget.

In the 1996 tentative budget, owners of property assessed at the township

average would pay $454 in township taxes, the same amount as in 1995. Jakubec estimates that taxes will increase by $12.70 in 1997.

Officials said the township would pay about $250,000 a year to retire the bond debt, including the 5.25 percent interest.

"I can't imagine a better bond," said Supervisor Chairman Kevin Hastings.

Township Manager John Burke said fixing the police station roof was the most expensive item.

"It will probably cost somewhere between $100,000 and $200,000," Burke said.

The bonds will be issued by Meridian Capital Markets by late December. This is the township's third bond issue since 1993.

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