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Rutland treasurer outlines tax bill timing as board approves circulation of $5.25 million bond documents
Summary
City treasurer briefed aldermen on timing for tax bills and drivers of the municipal tax rate; the board approved circulating documents for a $5.25 million voter‑approved general obligation borrowing to fund sidewalks, water mains and a capital project.
City Treasurer Mary Markowski told the Board of Aldermen the city will print and mail tax bills this week and summarized items affecting the municipal tax rate as aldermen prepared to sign bond documents for a $5,250,000 general obligation borrowing. Markowski said tax bills would be generated on Wednesday and mailed to reach taxpayers in time for the first installment, which is due Aug. 31. She told the board the municipal tax rate rose from last year and that the board-approved additions to the police department accounted for roughly $32 on the annual tax bill for a $150,000 home. She said the DPW vehicle purchase added about $8. On the bonding item, aldermen approved circulating documents for a $5,250,000 sale to the Vermont Municipal Bond Bank. Treasurer Markowski described the borrowing as a package of voter-approved issues: a $1,000,000 sidewalk bond, a $2,500,000 water-main project bond (including work on Morris Place and portions of Curtis Avenue and Chaplin Avenue) and a $1,750,000 capital project bond for Georgette (a chiller/capital project referenced in meeting materials). The borrowing documents were prepared by the city’s bond counsel and the board voted to circulate and sign the resolution and signature certifications; the closing is scheduled for Aug. 7. Acting Mayor Allaire signed documents for the mayor’s office as permitted while the mayor is away; aldermen signed board certifications to complete the packet. Treasurer Markowski also noted the city’s grand list declined by approximately $6.5 million this year, a factor in rate-setting, and that the board will operate departments on the voter-approved budget which is $807,000 below the mayor’s original proposal. She and aldermen discussed the special benefits district and the Rutland Redevelopment Authority’s slight rate adjustment. The board approved the circulation and signature of the bond documents; the documents will be gathered and delivered to bond counsel following the meeting. No additional borrowing authorization beyond the voter-approved amounts was requested at the meeting.
