Selectmen approve loan agreement and authorize town representative for multiple infrastructure projects including new fire station

The Swanzey Board of Selectmen voted to approve and sign a loan agreement with the New Hampshire Municipal Bond Bank for the town's new fire station project and authorized the town administrator to act as the designated representative on a group of capital projects.

Selectmen also moved to authorize the town administrator, Laurie, as the designated representative for several projects including stormwater asset management, Weare Hill Road slope stabilization, California and North Winchester Street improvements, an energy-efficiency and solar array project, and a comprehensive wastewater treatment facility study; the motion passed with an "Aye" vote. The board then approved and signed the loan agreement with the municipal bond bank for the purpose of financing the new fire station; selectmen voted in favor.

Staff provided project updates: the North Winchester/California Street reconstruction contract was awarded to Jay Evans Construction and construction will begin in summer, with traffic disruptions planned for June and July. The architect's contract and foundation plans for the new fire station were pending; staff said they expected foundation plans to enable earlier work and that final floor-plan details were being completed.

Staff reported that a previously allocated congressional directed spending award from Senator Shaheen (histor allocation described in discussion as about $200,000) will be submitted with required paperwork and a motion to authorize the town to sign necessary documents to secure those funds passed. Staff also said the town had filed FAA 7460 notification for the fire station and would submit the municipal bond loan paperwork per the bond counsel's instructions.

During the bond discussion staff highlighted two technical points from bond counsel: selectmen should review the loan exhibit setting principal amounts and the schedule for principal payments, and note the section establishing the maximum interest rate (set above current market to allow flexibility). Staff said the loan agreement had been approved subject to no material adverse change in the town's financial condition. The board accepted the loan agreement by motion and vote.