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Select Board approves debt management policy with 4-1 vote; OPEB excluded from limit calculation
Summary
After discussion over whether to include CPA and enterprise-style taxes in debt limits, the Select Board adopted a new debt management policy, approving a version that excludes OPEB liabilities from the debt-limit calculation and passed 4-1.
The Southborough Select Board voted 4-1 to adopt a debt management policy that sets formal debt limits and clarifies internal procedures for managing municipal borrowing. The board approved the policy subject to a single edit requested by Town Counsel/finance staff to remove OPEB liability from the debt-limit computation.
Andrew Dennington made the motion to adopt the policy and a fellow board member seconded. Select Board…
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