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would be happy to carry my share.”
He added that if the town goes to a bond authority, with 90 percent of the tax coming from one business, the lender is sure to ask “What happens if that business goes away?” Broadening the base only makes for more solid collateral, he said.
“I very much doubt we could get rated by any service,” the mayor said. “It would take a general obligation bond, plus state or federal money - then maybe we could get a better rating.”
Jim Thomasson (owner, with his wife Nan, of Heritage House Bed and Breakfast) questioned the figures arrived at by the water authority for the increase in water rates needed to cover the necessary repairs. Even a hike to six times the present $6 basic rate “would still not be nearly enough. As one of the affected businesses - of the options available - I favor the proposed tax.”
Camille Harris, who with her husband Pat Foster owns FosterHarris House, a bed and breakfast on Main Street, told the council she was confused about the proposed uses of the income. “Groups are often good at raising money and terrible about spending it . . . Twenty, forty, sixty thousand dollars a year is a tremendous responsibility ... It takes a definite plan.”
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