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School Budget Heating Up

For every householder of an older home in Rye, one of the conversations you most dread is with your plumber, starting with the words: “Mr. and Mrs. Smith, you need a new furnace or hot water heater or AC unit (take your pick).”

 

For every householder of an older home in Rye, one of the conversations you most dread is with your plumber, starting with the words: “Mr. and Mrs. Smith, you need a new furnace or hot water heater or AC unit (take your pick).”

 

Osborn School just had that conversation. Its furnace of 60 years (!) is kaput. Over the years, the District has managed to keep Osborn’s heating system in working order, way beyond its expected life span. Now, it has truly failed and must be replaced.

 

On the School budget ballot May 17, voters will be asked to approve a proposition authorizing the District to bond no more than $1.8 million to pay for the new furnace.

 

Why bond? As Board President Katy Glassberg states: “The District can borrow money for the new Osborn School furnace at incredibly low rates, and pay it back over the life of the equipment. As a result, the impact on any individual taxpayer is minimal.” This approach also avoids forcing taxpayers to come up with the money all at once for such large capital equipment expenditures.

 

Alas, Mr. and Mrs. Smith don’t have that low-cost financing option. “Honey, how do you feel about our taking out a home improvement loan?”

 


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