HomeMy WebLinkAbout2019-05-13 19-182 Resolve
05/13/201919-182
05/13/2019
19-182
School Department
Resolve
N/A
Title, Resolve
Making an Appropriation for Non-State Funded Debt Service Allocation for the Bangor School Department as
Required by 20-A MRSA Section 15690 2. A
This Resolve, Article 2, will appropriate the non-state funded debt service allocation in the amount of
$1,410,000. Non state funded debt service is the amount of money needed for the payments of
school department long term debt for major capital construction projects and or minor capital
renovation projects that are not approved for state subsidy. The issuance of this long term debt was
previously approved by the Bangor City Council.
Recommend for passage
First Reading
05/13/201919-182
CITY OF BANGOR RESOLVE
05/13/2019
19-182
Sprague
Making an Appropriation for Non-State Funded Debt Service Allocation for the Bangor School Department as
Required by 20-A MRSA Section 15690 2. A
Be it Resolved by the City Council of the City of Bangor that,
In accordance with 20-A MRSA Section 15690 2. A., there is hereby approved the following separate school
budget article raising and appropriating $1,410,000 in local funds for annual payments on debt service for
non-state funded portions of School construction projects and minor capital projects.
ARTICLE 2 To see what sum the municipality will raise and appropriate for the annual payments on debt
service previously approved by the city council for non-state funded portions of school construction projects
and minor capital projects in addition to the funds appropriated as the local share of the school administrative
unit’s contribution to the total cost of funding public education from kindergarten to grade 12.
Recommend $1,410,000
Explanation: Non state funded debt service is the amount of money needed for the payments of school
department long term debt for major capital construction projects and or minor capital renovation projects
that are not approved for state subsidy. The issuance of this long term debt was previously approved by the
Bangor City Council.
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