Abington to Advertise Hearing for $3M in Bonds

The Abington Public Works Committee on Monday approved a motion to advertise an ordinance for the issuance of $3 million in general obligation bonds for public hearing on March 8.

The Board of Commissioners meeting is Feb. 9.

According to a memo in the agenda, the Abington Board of Commissioners adopted a 2012 budget that included provisions for increased debt service for township-wide drainage projects.

See the drainage projects below.

Manager Michael LeFevre said the township’s budget originally called for $2.7 million in bonds in 2012; township engineer Michael Powers said he felt “more comfortable” with the $3 million figure given the projects on tap.

LeFevre said because interest rates have declined in recent months, the extra $300,000 wouldn’t affect the debt service.

About $29,000 will be deducted from the bond proceeds: About $12,000 for a financial advisor (Gordon Walker of PFM); and between $15,000 and $17,000 for bond council (Liz Preate Havey of Pepper Hamilton). 

 

East Side Projects, 2012 Bond Issue

Location Project Cost  Ward 1665 Susquehanna Road Bypass Pipe $68 K 1 1707 Hampton Road New Storm Sewer 40 K 1 1100 block of Lindsay Lane New Storm Sewer 60 K 1 1331 Meadowbrook Court Creek Bank Stabilization 20 K 1 962 Susquehanna Road New Storm Sewer 60 K 2 300 block of Cadwalader Avenue New Storm Sewer 40 K 3 Rossiter/Thomson/Coolidge New Storm Sewer 160 K 5 972 Rydal Road Replace Existing Storm Sewer 120 K 7 2900-3000 block Old Wesh Road Replace Existing Storm Sewer 80 K 8 2884-2888 Senak Ave. Storm Sewer 20 K 8 2920 Rossiter Ave. Yard Drain 12 K 8 Thunderhead and Blue Jay roads New Inlets 40 K 8 1400 block of Lindbergh Avenue New Storm Sewer 140 K 8 Cleveland Avenue Storm Sewer/Yard Inlets 40 K 10 2421 Pershing Ave. Yard Drain 20 K 14 1200 block of Johnston Avenue Replace Existing R/R ties 150 K 15 1100 block of Johnston Avenue Replace Existing R/R ties 150 K 15 Woodland Road, High to Arline avenues Storm Sewer 120 K 15 St. Charles Yard Drains/Sump Pumps 60 K  15 Total - $1.4 million -

 

West Side Projects, 2012 Bond Issue

Location  Project Cost Ward 2700 block of Jenkintown Road New Inlets $20 K 6 100-200 Blocks of Central Avenue Storm Sewer 160 K 6 430 Central Ave. Storm Sewer 160 K 6 Houston Avenue/Railroad  New Storm Sewer 40 K  6 2809-2811 Mount Carmel Ave. New Yard Drains 20 K 6 305 Elm Ave. Yard Drain 20 K 6 700 Bock Penn/Garfield/Tennis avenues New Storm Sewers 240 K 9 Penn/Garfield/Tennis avenues Storm Sewer 120 K 9 Highland Avenue to Cantebury Creek Bank Stabilization 120 K 11 552 Baeder Road Storm Sewer 120 K 11 Baeder Creek/Crescent Avenue Creek Bank Stabilization 60 K 12 Weldon to Elk avenues New Storm Pipe 140 K 13 300 block of Cliveden Avenue New Storm Sewer 140 K 13 400 block of Linden Avenue New Storm Sewer 80 K 13 400 block of Sylvania/Geneva/Easton New Storm Sewer 160 K 13 Total - $1.6 million -