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Board weighs payoff of Siemens energy loan, authorizes $750,000 revenue anticipation note
Summary
RSU 04 trustees debated whether to use year-end savings to pay off a remaining Siemens performance-contract loan or to spend on year-end maintenance projects. The board authorized a $750,000 revenue anticipation note (RAN) and gave mixed feedback on immediate payoff of the $577,665 Siemens balance.
Trustees of RSU 04 spent an extended portion of their meeting reviewing the district’s energy performance contract history with Siemens and weighing whether to use year-end funds to pay off a remaining Siemens loan or instead spend those funds on deferred maintenance and year-end projects.
Abe Betrayna of Siemens told the board the three phases of work completed since 2013 have produced realized energy savings. “The first phase started in 02/2013, and to date, you've saved 1.8 and change million dollars,” Betrayna said. He reported phase 2 energy savings of roughly $35,000 and phase 3 savings of over $420,000; Siemens staff…
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