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Committee hears bill to raise township bonding limits and add population tiers
Summary
Senate Bill 7 would raise bonding limits for township buildings and fire departments, introduce a population-based tiered limit (1% up to 10% depending on population) and extend maximum bond maturity from 15 to 20 years. Proponents said the change is needed for large, growing townships such as Soldier Township in Shawnee County.
The Senate Committee on Local Government, Transparency, Ethics held a hearing on Senate Bill 7, which would increase township bonding limits for reconstruction, repair and equipment of township buildings and for township fire departments. The bill would create population-based tiers for bonding limits, raise the cap for townships with more than 10,000 residents to 10 percent of assessed valuation for buildings and add a separate 5 percent cap for fire department bonds. The bill would also extend maximum bond maturities for these purposes from 15 to 20 years and, if enacted, would take effect July 1, 2025.
Committee staff explained the bill’s text and sponsors described the…
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