PRINCETON — The Princeton Park Board has adopted a preliminary tax levy which is basically flat with last year’s.
At Monday’s meeting, park district attorney Bob Russell said the 2013 tax levy is money which will be received by the park district in the summer and fall of 2014. The tax levy is based on the district’s Equalized Assessed Valuation (EAV), which was $136,628,001 one year ago, compared to $148,632,159 two years ago. In talking to Supervisor of Assessments Tom Sweeney, the 2013 EAV for the park district is expected to be basically the same as in the previous year, about $137 million, the attorney said.
The proposed 2013 tax levy extension is $484,000 for the regular funds in the budget, plus another $811,725 for the general obligation bonds which will be issued by the park district. The estimated 2013 tax rate is about 35 cents for the regular funds, with another 59 cents for the bonds, for a total of about 94 cents. The 2012 tax rate totaled 95 cents. The proposed tax levy extension represents an overall decrease of about $14,530 from the previous year, Russell said.
After the presentation and adoption of the preliminary tax levy, the board authorized Russell to send letters to the four local banks to seek bids for the needed general obligation bonds. A bond hearing will be held in November, with the bonds expected to be awarded at the park board’s Dec. 2 meeting.
In other business at Monday’s meeting, executive director Elaine Russell reported six new memorial park benches will be installed this fall along the Zearing Park walking path. Plus, another bench has been purchased and will be installed next year, along with hopefully more benches, Russell said.
As reported earlier in the Bureau County Republican, there are 16 locations marked for the new benches, with those sites chosen in conjunction with future picnicking locations, future shade from newly planted trees and potential shelters around the pond.
The total cost of each memorial bench will be either $1,585 or $1,737, depending on the size of the memorial plaque purchased to go on the bench. Each bench is 6 feet long and will be installed on a concrete slab.
In still other business at Monday’s meeting, recreation coordinator Nick Davis gave an update on the work and programs he has done since being hired in August, as well as future programs which he wants to consider for the future.
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