October 3, 2008 · Updated 1:01 AM
I am writing in response to your guest columnist, Mr., Mrs. or Ms. D. C. Norrie. The facts pointed out by D. C. Norrie are not accurate. Recent Valley Record articles have the following accurate facts about the Tollgate Farm bond issue coming up for a vote on Sept. 18.
1. The $3,560,000 in bonds is a fixed amount to be collected and will not be more than this set amount.
2. The city's new bond rating of A- will provide taxpayers with some of the lowest interest rates in history.
3. The tax rate is $0.61 per thousand assessed value.
Therefore, the amount paid by taxpayers will never be higher than $61 per $100,000. In fact, because of increases in assessed valuation, each taxpayer's share of the rate per thousand for the bond will likely decrease over the next 20 years.
Therefore, the description of $2.35 per week based on a $200,000 valuation is an accurate fact.
On September 18, each family will be asking if the $2.35 per week is worth it. The preservation of Tollgate Farm's 400 acres provides for a "space" that can be used for our children, ourselves, our neighbors and all of our future families. By preserving the Tollgate Farm's 400 acres, our community is thinking and planning for our future; we will not have to go "looking" in a few years to try to find an open space that is accessible and available to us.
The purchase of the Tollgate Farm creates a legacy that can be used for ball fields for our children and ourselves, reduces the risk of flooding, provides for wildlife habitat corridors and preserves one of the most scenic gateways to our city of North Bend that will last for decades and decades. Taking away the Tollgate Farm costs much more to our future.
The information above is basic "finances 101" on bond issues. The Tollgate Farm bond issue is for a fixed amount of dollars that will pay for one item: Tollgate Farm.' I encourage you to vote YES on the Tollgate Farm bond issue on Sept. 18.