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Little Compton Voters Approve $11.3 Million School Bond

Final results are as of 9:30 p.m. Tuesday night.

The voters of Little Compton approved the $11.3 million school bond to repair the infrastructure issues plaguing on Tuesday.

According to the Town Clerk's Office as of 9:30 p.m., there were 568 votes to approve and 89 votes to reject the proposal. Of the 2,975 registered voters in town, 657 cast their vote.

Residents about the importance of a vote like this, citing the effort to continue providing a sound building to educate the children of Little Compton.

The Rhode Island Department of Education bond comes at a 40 percent reimbursement to the town, on a 5 percent interest rate on a 20-year loan. The renovation should bring a new roof to last 20 to 30 years and a modernized infrastructure in the existing building to last 50 years.

Property taxes are estimated to increase $0.30 per $1,000 of assessed property value. So, a homeowner with a home valued at $400,000 would pay an additional $120 each year for 20 years. The town anticipates to get the first rebate from RIDE in October.

Kevin May 02, 2012 at 03:39 AM
Consider this, the $11.3 million dollar, BEFORE interest, school bond issuance divided by Little Compton's total population of 3,492 (2010 census) means that this one bond will add $3,235.97 of new debt to each man, woman and child living in the town! Ever wonder how much total debt Little Compton has incurred in its' residents name? Did you know RI has charged $8,481.23 in your name? If you’re really into torturing yourself, you can add $46,016.77 to each of these numbers. That’s your share of the national debt at last year's end! How many of us are better off as a result of the excessive spending and massive debt accumulation?
Polly Allen May 02, 2012 at 11:33 AM
What do you see as a good solution for school then Kevin? Have you been in the school to see the fire code violations and disrepair? Do you have children in this community?
KSilvia May 02, 2012 at 11:49 AM
Congratulations Little Compton. I can only hope Tiverton follows your lead in supporting education on May 15.
Cranky Yankee May 02, 2012 at 12:22 PM
No one likes taxes, Kevin ... but the !@$#^ school is falling down!! It's now a health, safety and handicapped access problem ... and if we don't fix it OUR way, that assembly of hacks and half-wits on Smith Hill will dictate that we have to fix it THEIR way, and in a manner that amply rewards all of their union constituencies. Because LC taxpayers got involved, a gold-plated $30+ mllion boondoggle was value-engineered down to an $11.3 million project that fits the town's budget as well as being sized to reflect the demographics that show class sizes decreasing instead of increasing. I don't like the fact that 3,500 people have to take on $11.3 million in debt, but if we had put our heads in the sand for a few more years, the State and the Feds would have imposed their will on us ... at a far greater cost.
Joseph M. Quinn May 05, 2012 at 07:03 AM
The voters spoke and it is a mandate. Now the hard work begins.

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