The Islip Town Board has unanimously authorized a total of $10,817,000 in bonds for an array of projects the town’s chief executive said were made possible by Islip’s high financial rating.
Immediately prior to the roll-call votes on each of the four bond resolutions, Town Supervisor Angie Carpenter at Tuesday’s town board meeting lauded the town’s financial position.
“With our success with the rating agencies . . . it’s really a very favorable time of year for us to be doing bonding,” Carpenter said. “So I thank everyone for their help and certainly the departments in sharpening their pencils and coming up with projects that are needed but responsible.”
In March, Moody’s Investor Service upgraded the town’s general obligation debt rating from Aa1 to AAA with a stable outlook.
In Carpenter’s State of the Town address in May, she called the new bond rating “very reassuring” and said it “certainly reaffirms that the policies and procedures that were put into place when I took on the responsibility of this office last year are working.”
The first bond that passed Tuesday was for $5.527 million for capital improvements that included $2.6 million for dredging; $405,000 for signage at the town-owned Long Island MacAruthur Airport in Ronkonkoma; $470,000 for light vehicles and equipment; $295,000 for computer hardware and software; $200,000 for intersection improvements; $20,000 for plans to improve the town’s rifle, pistol and archery range in Islip hamlet; and funding for several other projects, according to the resolution.
A second bond for $810,000 was passed that included $510,000 in sidewalk improvements; $200,000 to improve recreational facilities; and $100,000 in facility improvements.
Before a vote for $2.98 million in bonds, Carpenter said: “We have many facilities that need improvements, so thank you to the staffs that have kind of been keeping these buildings together.”
Earmarked for that bond is $1.13 million to buy heavy-duty vehicles and equipment; $500,000 for playground equipment; $250,000 for ball field improvements and fencing; $500,000 for golf course improvements; and $600,000 for improvements to Town facilities.
The fourth resolution passed for bonding was for $1.5 million to make improvements to town marinas and bulkheads.
“We get many many requests for this and we certainly can’t do it all, but we’re trying to address it systematically,” Carpenter said before the town board members again voted 5-0 to pass the final bonding resolution.
Each resolution is subject to a permissive referendum.