ANNUAL FISHERS ISLAND MEETING
Wednesday, August 5th
Fishers Island residents are encouraged to attend one of the many activities that are planned for the annual Town of Southold Fishers Island meeting. The boat will arrive from the mainland at approximately 11:20 a.m. and the agenda for the day appears below that Fishers Island residents are invited to participate:
11:30 a.m. The Planning Department will host a discussion on “The Future of Fishers Island Land Use” in the Community Center.
11:30 a.m. Nate Malinowski and Jacques Vidal of Lighthouse Works will conduct a Fishers Island Cultural Arts Tour highlighting a tour of Lighthouse Works public art exhibition and guided studio tour of Lighthouse Works’ Artist-in-Residence program, tour of Fishers Island Theatre and tour of Ferguson Museum.
12:30 p.m. BBQ Lunch at Fishers Island School for the Town of Southold visitors and the Fishers Island community members attending the meetings and interested in speaking with the Town Board members and guests.
1:30 p.m. Fishers Island Annual Town Board Meeting—This is an opportunity to make comments or ask questions of elected officials.
2:30 p.m. Boat leaves Fishers Island for Southold.
REFINANCING OF FISHERS ISLAND FERRY DISTRICT
Southold Town Supervisor Scott Russell announced the refinancing of $1.36M of outstanding Fishers Island Ferry District Bonds issued in 2005 to finance the construction of New London Terminal. This bond “refunding”, which is expected to close on July 29, will save the Fishers Island Ferry District over $100,000 for the fiscal years beginning in 2016 and ending in 2021. In 2016, the District will save over $17,000. The Final True Interest Cost of the Ferry District’s component of the Refunding Bonds is 1.64%, replacing an average rate of 3.75% on the refunded Bonds.
Supervisor Russell also announced that Moody’s Investors Service has upgraded Southold’s bond rating from Aa2 to Aa1, representing the highest credit rating Southold has ever had. In assigning the rating, Moody’s cited the Town’s “strong management, which has a track record of conservative budgeting and financial practices”. A higher credit rating saves the taxpayers money by reducing the cost of borrowing with lower interest rates. The detailed Moody’s report can be viewed on the Town’s website at www.southoldtownny.gov.
In an effort to keep Southold residents and visitors informed about Town government, please take a short survey that will appear on the Town’s website no later than August 10th. The survey is designed to assess how you want to receive information from the Town. Hard copies will be available at the offices of Town Clerk the Human Resource Center. Data will be evaluated and suggestions will be implemented in 2016 to the best of our ability.