`our Best Days Ever' 
Local Merchants Say A Post-thanksgiving Blitz Should Yield A Green Christmas 
This Year

Albert Lipovsky 
Dec. 1, 1994 
Albert W. Lipovsky, 76, Of East Newport Street, Newtown Section Of Hanover 
Township Died Thursday At His Home.

By JERRY LYNOTT; Times Leader Staff Writer
 Saturday, December 03, 1994 &nbsp;&nbsp;&nbsp;&nbsp;Page: 3A 





KINGSTON -- Mayor Gary Reese approved the 1995 budget that keeps taxes at
28 mills. &nbsp;&nbsp;&nbsp; 
 Reese signed the $5.7 million budget Thursday, two days after council
passed it. &nbsp;&nbsp;&nbsp; The financial plan, slightly less than this year's $5.8 million budget,
keeps millage the same for another year. A mill is a $1 tax on every $1,000 of
assessed property value. A homeowner with an average property assessment of
$4,000 pays $112 a year in property taxes. The per-bag garbage fee of $1.75
also stays the same. &nbsp;&nbsp;&nbsp; 
 The budget underwent a number of changes after the mayor submitted it to
council in October. The most notable alteration was the elimination of the
sinking fund the mayor created to speed up paying off the municipality's debt. &nbsp;&nbsp;&nbsp; 
 Council took the $100,000 Reese set aside for the "defeasance of liability
account" and placed it in two other line items -- the capital reserve fund and
the capital expenditure account. &nbsp;&nbsp;&nbsp; 
 The move went against a recommendation made by accountants hired by council
to review the municipal finances for the first six months of the year. &nbsp;&nbsp;&nbsp; 
 In 1997, Kingston's payment for a $2.4 million bond issue will increase to
almost 10 times the 1995 level of $30,000. The payment jumps to $290,000 in
1997 and $300,000 in 1998. The rise, however, is scheduled to coincide with
the final payment of a $664,000 loan at the end of 1996. &nbsp;&nbsp;&nbsp; 
 Both the bond and the loan are paying off the more than $3 million debt
accumulated from years of overspending. The shortfall came to light last year,
prompting layoffs, expense cuts and a near doubling of the 14.5-mill property
tax. &nbsp;&nbsp;&nbsp;

Reese Oks Kingston's '95 Budget