Rockland considers Council candidates, new City Hall, removal of mayor protocols
In Rockland, two candidates, incumbent Nicole Kalloch and David Statman, are competing for one seat on the City Council.
Local issues before Rockland voters are:
Question 1. Shall the Rockland City Charter be amended to allow that, at any time, the City Council may vote to remove the Mayor from the mayorial position, and vote again to select a new mayor to fill the remainder of the one-year term?
Question 2. Bond for Public Services Garage. The City is asking voters to approve a $3 million bond, plus an amount not to exceed 2 percent to pay the cost of the bond or notes, to finance the construction of a public services garage.
Question 3. Bond for City Hall. The City is asking voters to approve a $3 million bond to finance the cost of acquisition, repairs and renovations of 22 White Street to be the location of a new city hall. The Question also includes spendng for the cost of the bond or notes not to exceed 2 percent.
Question 4 asks voter if the Council should explore a local housing bond and other policies and incentives for the development of affordable housing in Rockland.
Currently, Rockland's outstanding indebtedness is $19.5 million. With bonds authorized by not issued, the total is almost $24 million.
The city said the anticipated interest rate on the proposed bonds is between 5 and 6 percent. Assuming the issuance of the full $6 million of bonds, but not accounting for the cost of issuance, the principal payments over a 30-year term and an average interest rate of 5.134 percent, the interest cost would be $5.365,946, which would result in a total cost of prinicpal and interest to be paid at maturity for the new bonds to be $11.365 million, all dependent on market conditions.