#2 False

False. Amherst taxpayers will not take on $36 million in debt; the net cost of the project to the Town is capped at $15.8 million which is similar to what will be needed for repairs if the project is rejected. The Town was required by the MBLC to approve funding of the entire cost of the project, but other, guaranteed, sources of funding will reduce that to $15.8 million.  Further, the Town of Amherst has very little debt at present, and even this will be fully paid off in a few years. We have ample capacity to borrow funds and this is the best time to do so, with low interest rates and our high bond rating. Any borrowing for the Town’s portion of the library cost will be repaid through regular tax revenues without a special increase.