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NEWS
Interim PZ&B director prepares for ULI visit. PAGE 3A
OUR TOWN
FREE • THURSDAY, OCTOBER 17, 2013
DIVERSIONS
COLLABORATION
Chefs work alongside culinary students for food and wine festival. PAGE 1B
Gary Mazzu brings Poe’s work to life this Halloween. INSIDE
unfunded liabilities
by Kurt Schultheis | Managing Editor
Town seeks to pay down debt Town officials want to pay off pension debt totaling more than $25 million through its annual budgeting process.
Courtesy photo
Fred and Jean Carleton
+ Key couple celebrates 65 years
The town of Longboat Key may not ask registered voters to approve a bond to pay off more than $25 million in pension liabilities. That’s because town staff and the town’s Investment Advisory
Committee both say it doesn’t make financial sense to pay off all the debt at once through a bond because of rising bond market interest rates. The Investment Advisory Committee met Oct. 11, at Town Hall,
to discuss how to fund pension liabilities now that the general employees and firefighters pension plans are frozen. The town is also seeking to freeze the Police Department pension plan. “We don’t have to borrow any
Not many couples reach their blue sapphire celebration — that is, 65 years of wedded bliss. But Fred and Jean Carleton did just that when they celebrated the anniversary of their Oct. 9, 1948 wedding in Mount Vernon, N.Y., with family and friends at a dinner party. The Carletons lived on Longboat Key for 38 years but now reside in Freedom Village in Bradenton.
money or pay any interest,” said Town Manager Dave Bullock. “What we have to do every year is continue to make our annual required contributions.” Bullock noted at the meeting the town can continue to budget for the annual required contributions and plan for making more
SEE DEBT / PAGE 2A
STONE-COLD CRAB
+ Colton family makes news Bill Colton was quoted in the Oct. 10 issue of the Longboat Observer (which hit stands and driveways Oct. 9) in a feature about his “Over the Hill Golf Gang.” His son, an ExxonMobil executive who is also named Bill Colton, was also quoted in a newspaper that day in a New York Times article titled “Oil Shocks Ahead? Probably Not.” The elder Colton pointed out that he, unlike his son, also got his picture in the paper.
+ Turtle nests continue to hatch Turtles wrapped up nesting last month, but it’s still nesting season through Oct. 31. Nests continue to hatch from Longboat Key to Venice, according to Mote Marine Laboratory — so keep those lights out and those beaches free of furniture and debris. Mote also asks boaters to be vigilant when it comes to turtles. In September, it received and/or recovered seven boat-struck turtles. Typically, 25% of turtles Mote examines show signs of human interaction, such as boat strikes or entanglement. But in September, all seven turtles, two of which survived, showed such signs.
Mallory Gnaegy
Alan Moore, co-owner of Moore’s Stone Crab Restaurant, says the phone rings constantly the first day of stone crab season, Tuesday, Oct. 15. Last year offered mostly medium-sized claws; it will be hard to tell what’s in store until a few days into the season. Read more about Moore’s in the Oct. 24 Diversions feature, and visit YourObserver.com this week to view our stone crab video feature.
BANKRUPTY BOGDOWN
by Kurt Schultheis | Managing Editor
Colony case lingers into November Bankruptcy hearings for the Colony are scheduled into next month as a bankruptcy judge urges parties to reach a settlement rather than draw the case out in court. “If everyone wants me to keep making rulings that can be appealed, we can keep doing that.” The comment from U.S. Bankruptcy Judge K. Rodney May was meant to urge Colony Beach & Tennis Resort parties to reach a
settlement rather than allow the Chapter 11 bankruptcy case to continue. If May’s wish is granted, the case will be resolved some time in November. But at an Oct. 10 hearing scheduled to review
settlement progress, May heard more of the same from Colony parties. The two-hour hearing included pleas from the Colony Beach & Tennis Resort Association to approve a submitted settlement
next month, objections from Colony Lender LLC regarding the settlement and pleas from Colony Lender to liquidate and allow a sale of all the resort’s as-
SEE COLONY / PAGE 2A
INDEX Briefs....................4A Classifieds......... 29A
Cops Corner..........9A Crossword.......... 28A
Neighborhood.... 19A Opinion.................8A
Real Estate........ 26A Weather............. 28A
Vol. 36, No. 11 | Two sections YourObserver.com