Referendum Voters Will Be Asked To OK $5.7M Bond Issue

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first_imgBy Liz SheehanSEA BRIGHT – The Borough Council unanimously approved a resolution at its Aug. 2 meeting that set Tuesday, Sept. 27, from 6 a.m. to 8 p.m., for a special election for a referendum on three bond issues that would provide funds to replace two borough buildings lost in Sandy in 2012 and the existing Borough Hall.The resolution also set the wording of the interpretive statement that would explain the three questions being voted on, one for each bond issue.The buildings proposed would contain the borough’s lost firehouse, police department, library and beach facilities as well as replace the current Borough Hall.The interpretive statement said that total projected costs of the two buildings was $12,726,969 – of which $5,761,750 is the maximum to be bonded.The statement said that it was necessary for both bond ordinances 15-2016 and 17-2016 to pass to fund the building called the Community Center/Beach utility structure.Ordinance 17-2016 provides for construction of the beach facility while ordinance 15-2016 deals with the construction of the community center/library building.This building is described as a single 8,609 square-foot structure that would serve both as the library and beach facilities. It would add new storage space for police, fire and public works equipment with a second level that would contain a place for Borough Council, Planning Board and other town meetings as well as rentals by the public with an oceanfront deck included in the building, the statement said.“The borrowing for ordinance 15-2016 is anticipated to be fully repaid from taxes and the borrowing for ordinance 17-2016 is anticipated to be fully repaid by revenues of the Beach Utility from beach user fees,” the statement said.It described the building funded by ordinance 16-2016 as a 14,187 square-foot-structure that would replace the firehouse, and police and first aid building destroyed by Sandy that would also have an extra bay for storing equipment and space to relocate “borough administrative functions and records storage.” The borrowing for ordinance 16-2016 is to be repaid from taxes, according to the statement.A chart contained in the statement shows the projected cost of the library /beach facility to be $4,875,248 with the maximum amount to be bonded as $332,500 for the library and $1,486,750 for the beach facility. Insurance payments for the building are listed as $150,000 for the library and $185,000 for the beach facility, while the Federal Emergency Management Agency (FEMA) funds the town receives will be $900,000 for the library and $1,450,000 for the beach portion of the building. Another $400,000 will go towards the beach facility from a settlement in a lawsuit concerning beach access the borough has received.According to the table, the maximum expected to be bonded for the municipal complex is $3,942,500, with $1,000,000 provided by insurance and $2,750,000 by FEMA.Although the council vote was unanimous, several residents protested the ordinance and said the projects could be achieved through less costly replacements of the buildings and that the costs for the proposal had escalated from when it was first proposed.Jean Kingman said that when “we started out the costs were much less.” Councilmen John Lamia, Jr., and Jack Keeler have also said they believed the project costs are too high.The referendum on the bonds was required when a petition contained sufficient voter signatures requesting it. The number required was 15 percent of the last election in which members of the State Assembly were on the ballot. According to Borough Clerk Christina Pfeiffer that number was 47 and 69 qualified residents signed the petition.At a prior meeting, councilman Brian Kelly said with revenues from the new metered parking system in the town and the cell tower and insurance payments, the bonds should result in an increase of two cents per hundred dollars of assessed value to borough taxpayers.A public town meeting on the referendum will be held at 7 p.m., Tuesday Aug. 23. Drop-in information sessions on Saturday, Aug. 27, from 10 a.m. to noon and on Sept. 7 from 4 to 7 p.m. at the Borough Hall, where questions about the bonds can be answered by council members and borough staff.last_img

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3 FTSE 100 double-digit dividend-paying stocks I think Buffett would love now

first_img Our 6 ‘Best Buys Now’ Shares Simply click below to discover how you can take advantage of this. Anna Sokolidou | Saturday, 21st March, 2020 3 FTSE 100 double-digit dividend-paying stocks I think Buffett would love now Image source: Getty Images. See all posts by Anna Sokolidou I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee.center_img Anna Sokolidou does not hold shares of any of the companies mentioned in this article. The Motley Fool UK has recommended Barclays, HSBC Holdings, and Lloyds Banking Group. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! “This Stock Could Be Like Buying Amazon in 1997” Enter Your Email Address “Be greedy when others are fearful. Be fearful when others are greedy”. This is what the Oracle of Omaha once famously said to his shareholders.Buffett’s investmentShortly after the Lehman Brothers’ collapse Buffett bought top blue-chip securities, including those of Goldman Sachs and Bank of America.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…That time was really tough for banks, and many were close to going bankrupt. Central banks all over the world cut interest rates, to zero in some cases. Governments bailed out major banks and took extreme fiscal measures to save their national economies.Buffett’s investment paid off very nicely. He took advantage of the panic and bought ‘too big to fail’ banks at record low prices. Bank of America’s shares became almost 10 times more expensive since the Great Recession. Goldman Sachs’s stock appreciated more than five times.Crisis causesThe causes of the 2008–2009 crisis were totally different from today’s market sell-off.The main reasons were the mortgage crisis and the reckless investment methods banks, insurance companies, and hedge funds were using. There were very high levels of personal and corporate debt. Moreover, many investment companies clearly lacked proper diversification.The situation in the US had a dramatic effect on other countries, including the UK. This was due to many financial organisations having exposure to high-risk US mortgage-backed securities.   Today’s market panicToday, we find ourselves in a similar panic situation, although the causes of this sell-off are different. Shares of major banks have plunged. The UK government announced a £330bn support package for small businesses and said that it is prepared “to do whatever it takes”.The Bank of England also announced that it would provide commercial banks with £190bn in extra money to ensure they have sufficient liquidity and are able to support small businesses.The share prices of the banks I will mention below reacted positively after this decision was announced. However, they quickly erased all their gains, as coronavirus panic and a no-deal Brexit fears hang in the air. Nonetheless, the Bank of England’s willingness to support the financial sector is encouraging.Top banksI think the banks mentioned below have merit as investments, despite the current difficult situation, because they are sure to survive:Lloyds’ recent earnings were a bit discouraging. But this resulted from one-off charges relating to payment protection insurance. The bank has been aggressively cutting costs by closing some offices, reducing staff, and encouraging customers to access the banks’ services online. These measures, of course, will also help during this coronavirus crisis.The bank’s price-to-earnings ratio (P/E) is near a record low of 8. The dividend yield is now close to 10%, and the share price is hovering near a 52-week low.HSBC came up with a restructuring plan and recently appointed a new CEO of its business in China. The bank’s earnings decreased by more than 50% in 2019 compared to the year before. However, the P/E is almost 17 and the dividend of 50 GBX is not adequately covered by 2019 earnings of 30 GBX per share.Barclays is the only one of the three whose earnings increased between 2018 and 2019. EPS (earnings per share) rose from 21.9 to 24.4 GBX, making the P/E ratio a little bit over 3. The current dividend yield is 12%. The bank considers its cost-cutting initiative to be its top priority. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement.last_img

The Standard Life share price is up 34% in 6 months. Should I buy now?

first_img Enter Your Email Address UK stocks have taken a hit over the last year with the impact of the pandemic, but many have recovered recently as part of a stock market rally. Whether this rally can be sustained or is part of a bubble is up for debate, but I still see opportunities in the market at the moment.During turbulent times, I tend to look towards companies with a long and stable history of weathering difficult economic conditions. There are few in the FTSE 100 that have been around as long as Standard Life Aberdeen (LSE:SLA).5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…The Standard Life share price is now 34% higher than it was six months ago. While the shares have only gained 1% in 12 months, given the overall state of the Footsie during that time the shares’ performance is better than average.So would I buy Standard Life shares today for my portfolio?Strong and stableStandard Life has been around a long time. The company was first founded in 1825 and provides asset management, insurance, and savings services to both individuals and corporate bodies.Historically speaking, the company has not provided great long-term returns for investors. The share price has returned a loss over the last five years despite its recent rally. Investors don’t seem to have been convinced by the 2017 merger between Standard Life and Aberdeen Asset Management.Costs and competition have both been rising over the last number of years, which haven’t exactly helped the company’s bottom line. Profits for the company’s first half last year were 30% lower than the year before.So what has been driving the Standard Life share price higher in recent months?Broker actionOne reason could be that analysts at both JP Morgan and Berenberg upgraded their broker recommendations for the company. JP Morgan said there were several opportunities to close the ‘value gap’ between Standard Life and its competitors, including a reduction in dividends. The company currently has one of the highest dividend yields in the FTSE 100 at roughly 7%.Berenberg analysts also recommended a dividend cut so the company can focus on earnings growth, while upgrading the stock to ‘buy’ from ‘hold’.Important decisions will need to be made by new CEO Stephen Bird. Standard Life clearly needs to focus more on growth, but cutting the dividend could put off potential investors as well. How the new management deals with that dilemma will have an impact on the share price going forward.There is the potential for mergers and acquisitions to fuel growth, and management has indicated that it will consider this option.That said, I will need more convincing of the company’s ability to drive the share price higher in the long term. A key metric for Standard Life is assets under management, which has been falling for some time. Its most recent earnings report had their assets under management at £511bn.Until this heads in the right direction I won’t be buying the Standard Life share price for my portfolio. The Standard Life share price is up 34% in 6 months. Should I buy now? conorcoyle has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. 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On this Day: Video killed the radio star

first_img Please enter your comment! On this day in history: August 1st, 1981From The History Channel  TAGSHistory ChannelMusic Television Previous articleBlue Darter takes 2nd at Bowling NationalsNext articleApopka Bowling Team Wins National Title Denise Connell RELATED ARTICLESMORE FROM AUTHOR LEAVE A REPLY Cancel reply UF/IFAS in Apopka will temporarily house District staff; saves almost $400,000 Share on Facebook Tweet on Twitter You have entered an incorrect email address! Please enter your email address herecenter_img Gov. DeSantis says new moment-of-silence law in public schools protects religious freedom  “If advertisers make the video disco channel a success, the implications for cable television and the recording industry could be far reaching,” wrote a New York Times business columnist in the summer of 1981 about the upcoming premiere of a new cable television network dedicated exclusively to popular music. This prediction proved to be an understatement of historic proportions, though not exactly overnight.Though the premiere of MTV on this day in 1981 would later be seen as the beginning of a whole new era in popular culture, only a few thousand night-owl subscribers to a single northern New Jersey cable system were able to witness the televised revolution.It was just after midnight in the early morning hours of August 1, 1981, that the fledgling Music Television network flickered to life. “Ladies and gentlemen, rock and roll” were the words that preceded on opening montage featuring a chunky guitar riff playing over the familiar image of an American astronaut planting an unfamiliar flag on the surface of the moon—a flag emblazoned with a big, block capital “M” and the smaller, handwritten letters “TV.”The video that followed was, famously and prophetically, “Video Killed The Radio Star” by the little-known English electronic new wave duo, the Buggles. Pat Benatar’s “You Better Run” followed, and from there a rotation that featured several songs and videos that might be considered classics of the early MTV era (e.g., “Rapture” by Blondie and “Love Stinks” by the J. Geils Band) and many more that might not (e.g., “Can’t Happen Here” by Rainbow and “Little Susie’s On The Up” by PhD).The roughly 80 different videos that made up that first week’s rotation on MTV probably represented nearly every promotional music video then available. This would change, of course, as MTV proved its ability to break new artists and as record labels responded with ever larger budgets for lavish video productions. But on that first night, as several employees of the fledgling MTV gathered to watch their creation in a New Jersey bar, it is impossible to say how many others actually joined them.Soon enough, however, MTV would spread to cable systems nationwide and begin to exert the cultural influence that has since been credited (or blamed) for everything from Flashdance and Miami Vice to Rick Astley and Attention Deficit Disorder.For more on this day in history, go here. Please enter your name here Florida gas prices jump 12 cents; most expensive since 2014 Save my name, email, and website in this browser for the next time I comment.last_img

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