Suffolk lawmakers OK ballot proposition on drinking water fund
Suffolk lawmakers yesterday authorized a November referendum on a ballot proposal to create a $29.4 million program for environmental restoration and protection projects and land acquisitions aimed at protecting groundwater. The county would issue $29.4 million in serial bonds to establish the fund — the amount the county has already borrowed from the county's drinking water protection fund to balance its budget.
If approved by voters, the charter law would also authorize the county to borrow from the drinking water protection program's assessment stabilization reserve fund balance for the next three years to provide tax relief and keep the county tax levy increase within the state-mandated 2 percent cap. The assessment stabilization reserve fund currently has a balance of $140...| read more ››