Abington to Advertise Hearing for $3M in Bonds
Is your street on the list of projects?
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.
Abington Township 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 | - |
Victor B. Krievins
6:52 am on Thursday, February 2, 2012
This Bond Issue is needed but the $29.000.00 of related expenses seem a bit excessive.