The village board is trying to decide whether to swipe its credit card again to pay for another streets project. The big question is where to find the money for the bond payments.

Last Thursday morning, the board of trustees conducted an informational meeting about a comprehensive $3 million streets project that would include work on water lines, sanitary and storm drains and street resurfacing. Earlier this year, the board approved obtaining a $900,000 bond for a similar type of project on Irish Hill and North Grove Street. The South End project would include work on Chestnut Street, from the village line to Walnut Street; Walnut Street, from Chestnut Street to Delaware Avenue; Linden Avenue, from Walnut Street to the village line; and all of South Avenue and Delaware Avenue from Walnut Street to Beaver Street.

The area is the most troublesome for I&I; — the inflow and infiltration of ground and storm water into the sanitary sewer, according to sewer board consultant Dr. Theodore Peters and DPW Superintendent Brian Clancy. The additional water entering the sewer system taxes the village’s 1960s-era wastewater treatment plant, which has already far outlived its life expectancy. Plant operator John Cankar said the plant functions better when the concentration of sewage is not diluted by the extra water.

The village is operating the plant under an agreement with the DEC that calls for correcting the I&I; problems. In an effort to live up to that agreement, the village has been working to reduce the amount of storm and ground water entering the system. Peters said the consequences on not adhering to the agreement could be ``stiff fines’’ from the DEC.

``If you ignore the I&I;, the DEC will say, now you have to build a new plant,’’ Cankar added. Initially, the project had a price tag of more than $5 million, but has been scaled back, according to Clancy. He told trustees that it was better to tear up streets once and do all the work rather than approaching it in a piecemeal fashion. Larger projects usually get a price when they go out to bid, he added.

``There’s no sense fixing one thing and going back in a year. My opinion is, if we’re going to do the road to do the whole thing,’’ said Mayor Carol Waller.

Village Treasurer Mary Ann Henderson said the sewer and water department already have the money set aside to pay for their portions of the project, but it would leave approximately $1.7 million in street work that would have to be bonded. If no other sources of revenue are found, it would require raising the property tax rate by $.45 per thousand, or about 10 percent.

Trustee Eric Hage pointed out that if the bond payment for the Irish Hill project is also included, it would raise the tax rate approximately $.75 per thousand or 15 percent. “It’s clearly a worthy project,’’ said Deputy Mayor and Finance Committee Chairman Jeff Katz. ``It comes down to funding. A 15 percent tax increase — I don’t even know how you’d sell that.’’

In the past, trustees frequently spoke of their belief paid parking would produce the new revenue needed to pay for the Irish Hill project, and Katz mentioned it again during Thursday’s meeting. He also suggested that the $100,000 in bed tax funds the county has committed to Cooperstown may be another possibility.

``There’s stuff out there to cover it,’’ he added.

``We’re between a rock and hard place,’’ said Waller. ``For all those years nothing was done.’’

The mayor was referring to a more than 10-year period when taxes remained unchanged, but little was spent on village infrastructure. Waller told the trustees that she and Katz should go and see U.S. Sen. Charles Schumer. She said they made contact with him when he was in Oneonta earlier this year.

``I don’t think it would be bad for Jeff and me to go see him. The worst is that he can say no,’’ she said.

“None of the decision is about the merits of the project. It’s about finding the dollars,’’ Katz said.

Katz said this week that the board is supportive of the project, but he doesn’t expect the trustees to decide about proceeding with it until September, and they have had a chance to talk more about how to fund it.

The board will need a projection of parking revenue from the Doubleday Field lot based on the first year’s experience. ``We may want to wait until September when we have post-game analysis of Doubleday Field,’’ Katz said.

Implementing paid parking on Main Street is a discussion that also has to take place, he said. ``It is one place where there would be revenue for the South End project.’’