Early unofficial counts indicate Freeport residents approved the purchase of a new fire ladder truck, but did not purchase property near City Hall.

So far, residents are rejecting the purchase of 22 Maine St., the first local referendum question on the ballot, with 1,706 so far voting no and 1,258 so far voting yes. Freeporters are showing overwhelming support for the second question about purchasing a new ladder fire truck, with 1,645 votes in favor and 872 votes against so far. The city clerk was still counting absentee votes at 11 p.m.

In Question 1, voters had to choose whether to authorize City Hall to issue $500,000 bonds to purchase the undeveloped three-quarter-acre lot at 22 Main St., which neighbors City Hall and is often the site of Makers on Main. and other craft events. It is located in front of the public security building.

The funding would have increased the city’s debt from $507,200 to $1 million, according to the Freeport treasurer’s financial statement in the election order. The statement also estimated that the total cost of the proposed bond would include nearly $60,000 in interest with an estimated interest rate of 3.87% for a five-year term.

In Question 2, Freeports needed to decide to adopt an ordinance that would allow another $1.5 million bond to be issued for a new fire ladder truck. Although the City Council did not formally intervene on the 22 Main St. bond, it voted unanimously to recommend the adoption of this ordinance.

The treasurer’s statement noted that with this question, the city’s debt would increase to more than $2 million, if authorized. With an estimated interest rate range of 3.5% to 3.87%, the bond would have an estimated interest cost of $293,000 for a 10-year term.

The initial debt balance of $507,000 the city must pay is for bike and pedestrian paths near the DOT Freeport Bridge project at Exits 20 and 22 of Interstate 295, scheduled for completion in 2025. The initial bond was obtained for this debt. in 2021.

Jessica Maloy, the city’s finance director, said any approved bond payments will be incorporated into the general fund budget. He confirmed that there will be a tax increase for taxpayers. The current millage rate for the fiscal year (July 2024 through June 2025) is $13.35 per thousand dollars of property value.

Copy story link