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| As
a barrier island, with relatively low average land heights above sea
level, Palm Beach is particularly susceptible to storm and rainfall
events including tropical storms, hurricanes and related flooding.
The Town experienced a devastating flood over Thanksgiving 2000, and
after much planning and public discussion, the Town embarked on implementation
of a Storm Drainage Plan in 2002 to construct identified improvements.
However, due to recent property tax reforms and a subsequent 5 percent
cut in the Town’s tax rate, the “Pay-As-You-Go”
program can no longer be supported on a cash basis out of the Town’s
capital improvement fund.
The Town seeks $13 million in general obligation bonds to complete the improvements outlined in the Storm Drainage Plan. A referendum date of December 18, 2007 has been set for voters to decide whether to assume the debt in order to complete the Storm Drainage Plan as part of an overall storm protection program. This site is intended to provide background on this issue prior to the December 18, 2007 referendum. *Please note that new questions were added to the Frequently Asked Questions page on Thursday, December 13, 2007.
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