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LikeIV Financial Effects of Total Bond Authori ati n <br /> Based on Town Property Assessments as of the fa Ii of 2006,we determined with the <br /> assistance of former Town Treasurer Connolly, the average and median assessed <br /> property value for single family/cordo owners. <br /> Average Assessed Value - $446,600 <br /> 2. Median Assessed-Value - $338,700 <br /> Treasurer Connolly- provided us with a summary of the Amount of principal and <br /> interest that would be paid over 20 years for a $3.5 million permanent loan at4%and <br /> the taxes that wo u.Id added fors property assessed at$400,000. We c mputed from <br /> that figure the average annualu-nt of taxes that a property rner would pay o ar <br /> toren ears to for the principal and interest on a $ million permanent loan. <br /> That amount is $36 per year, or$9 a quarter. We believe, subject to Stewart Roberts <br /> anticipated estimates of cost, that the total amount of the Torn bond authorization <br /> will not exceed $6 million, and may in fact be less. <br /> Also, the Torn can choose to exclude the cost of furnishings in the amount to be <br /> borrowed thus reducing the amount f the permanent loam by $530,000. The <br /> permanent barn will not be required until the complection of construction which <br /> pern�a . <br /> currently is projected to be sometime in raid-2009 assuming construction begins, <br /> in the spring of 200 8. <br /> LET'S WORK TOGETHER To DEVELOP A WONDERFUL LIBRARY FOR MASHPEE <br /> WITHOUT HAVING TO SEEK MAJOR ADDITIONS IN THE FUTURE <br /> LET ILD A LIBRARY THAT SERVES THE TOW VARIOUS AND THE GROUPS <br /> � <br /> IN <br /> OUR COMMUNITY AND IS A BUILDiNG THAT WE CAN AFFORD AND BE PROUD <br /> F <br />