Union Township looks to build new garage

UNION TWP. — Union Township voters will be asked to vote on a bond issue to raise funding for the construction, furnishing and equipping of a new township garage in the Nov. 5 General Election. The bond issue is set for a principle amount of $750,000 which will be repaid annually over a maximum period of 15 years. The bond involves a 1.2-mill levy for Union Township residents. The value of the millage equates to $42 for each $100,000 of property value, as appraised by the county auditor. The levy would start in 2024, and would be first due in 2025. The monies from the levy would be used to pay the annual debt charges on the issued bonds as well as debt charges on any note issued in anticipation of the bonds. A "yes" vote would approve the issuing of the bonds. What the bond means In short, the community is asked for the township's permission to secure a bond and to give the township the ability to collect monies for the repayment of the principal amount borrowed from the issuing of the bond. In a bond issue, the money is collected up front from entities the bonds are issued to. With the voters' permission, the township will issue the bonds for the needed amount and will be expected to pay back the entities who bought the bonds. The back half of the ballot issue is the permission to collect the needed funds to pay the bond back in the form of a levy on the townsfolk. In this case, should the issue pass, the individual citizen will see a $42 increase in taxes per $100,000 of assessed value of their home. The stated value of the bond's principal amount is implied as a "not to exceed" amount. Should the building be able to be built for less, the levy will stop once the amount used to pay the debt charges is collected. What's it for? The current Union Township building is a repurposed school house built in the 1800s, with little space to utilize, said township Trustee Gary Reichley. "With the size of the trucks nowadays, there is just not enough space," Reichley said. He said the building also is not in the best of conditions, due to its age. The new building would be larger in size and able to hold township property like trucks, mowers and road signage, as well as serve as a place to hold meetings and keep records. "The (Union Township) community always seems like they want to step up and help," Reichley said.