Town sets tax rates
PUTNEY — PUTNEY - During two Special Selectboard Meetings, the Board unanimously voted to set the municipal tax rates for 2016.
To raise $847,678.28, the Board set the General Fund tax rate at 35.76 cents per $100 of assessed value.
To raise $716,354.52, the Board set the Highway Fund tax rate at 30.22 cents.
To raise $21,689.75 for the local agreement, the Board set the tax rate at 0.00915 cents.
Bank borrowing approved
PUTNEY - Following the directives from this year's Town Meeting vote, at the June 29 regular Board meeting the Selectboard unanimously approved signing two bank loans to purchase town vehicles.
Both loans are from Merchants Bank with a 2-percent interest rate. The Highway Department's new dump truck's loan is for $100,000, and the Fire Chief's vehicle is for $30,000.
Sewer loan approved
PUTNEY - The town has received approval for a $27,250 loan from the Vermont Water & Wastewater Revolving Loan Fund to pay The Dufresne Group to conduct the town's wastewater system asset management project.
“We will be forgiven 50 percent of it,” so the town only needs to borrow about $13,000, Town Manager Cynthia Stoddard told the Selectboard at their June 29 regular meeting.
Stoddard shared more good news with the Board: she recently learned about a grant for this type of project. If the town gets that grant, the remaining $13,000 will be covered, fully funding the work. The deadline for the grant application is Aug. 1.
The Board unanimously approved Stoddard's signing the contract with Dufresne.