Bond Referendum

At the November 3, 2020 Election, Biddeford voters will be asked to support two General Obligation Bonds totaling $17.5 million. The projects included in the Bond Referendum were selected to address longstanding maintenance needs for City facilities and streets throughout the community. Taking advantage of today's historically low interest rates will help save Biddeford taxpayers money on this necessary work.

Taxpayer Impact

The median single-family home is valued at about $227,100. If both bonds are approved, about $109 of the median single family homeowner's annual property tax payment will fund these projects annually over the 20 year lifetime of the bonds.

  1. Question 1
  2. Question 2
  3. Biddeford's Worst Road
  4. Bond FAQ

Question 1

This question asks voters to approve a $10 million General Obligation Bond to complete mandatory separation of the City's storm and sanitary sewer systems.

Language

Shall the Mayor and Treasurer of the City of Biddeford be authorized to borrow, on behalf of the City, a sum not to exceed ten million dollars ($10,000,000) on such terms as the Mayor and Treasurer determine are necessary and proper pursuant to 30-A MRSA §5772, including the interest rate and the principal payment dates, the Mayor and Treasurer being authorized to execute and issue such bonds with or without provision to call such bonds for redemption, with or without premium, for the purpose of paying the costs of separation of storm and sanitary sewers and related improvements?

A “yes” vote approves the bond. A “no” vote rejects the bond.

Background

Biddeford’s original sewer system was a one-pipe system, meaning that the same pipe carries storm water and household wastewater from toilets, tubs and sinks. During heavy rains, the single pipe cannot handle the high volume of water and as a result untreated wastewater overflows into water bodies such as the Saco River.  The City's Combined Sewer Overflow (CSO) program creates a two pipe system: one pipe that carries the household wastewater to the treatment plant and a separate pipe for carrying stormwater. 

The City's ongoing CSO work is important to reduce the level and frequency of pollutant discharges into our rivers and streams, reduce basement and yard flooding, and create a safer and cleaner environment. In fact, it is so important that it is required by the Maine Department of Environmental Protection. The projects that are set to be funded by this bond are outlined in the City's work agreement with the Maine DEP. This bond will ensure that the City can continue meeting the mandated compliance schedule (avoiding fines and penalties).

Proposed Project Descriptions

Financing

Total Bond Principal$10,000,000
Interest Rate4.23%
Total Estimated Interest$3,752,476
Total Estimated Debt Service$13,752,476
Estimated Average Annual Payment$687,625
Tax Rate Impact$0.274 (Based on the City's assessed value of its taxable property as of April 1, 2020)