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Select board reviews 30-year bond option as fire station construction advances
Summary
The Swansea select board reviewed a New Hampshire Municipal Bond Bank application to help fund a new fire station and received a construction update: bids are due, site work has begun and permitting tasks remain.
Select board members discussed whether to file a New Hampshire Municipal Bond Bank application for $2.5 million to partially fund a new fire station at 321 Homestead Highway and heard a construction update showing site work and early procurement steps are under way.
The bond adviser who presented the financing options outlined 20-, 25- and 30-year terms and said current market spreads between a 20- and 30-year bond were unusually small (about 17 basis points), a factor that led the presenter to recommend the 30-year term. The adviser also described the bond bank’s sales schedule and a final-change…
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