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Budget committee debates $10 million municipal building bond and how New Hampshire tax-cap rules would affect it
Summary
Brentwood budget committee members and Select Board representatives reviewed $10 million bond-schedule estimates and discussed how the town’s new 4% tax-cap and an existing 10% budget threshold would limit the ability to place a municipal-building bond before voters.
Members of Brentwood’s Municipal Budget Committee and several Select Board representatives spent a large portion of the meeting reviewing preliminary estimates for a proposed municipal/public-safety building and how the town’s recently enacted tax-cap rules would shape the project.
Building committee members said they issued a request for qualifications (RFQ/RFP) seeking design and engineering firms and plan to present two or three options to voters. As part of early financial planning, the group asked the Municipal Bond Bank for sample payment schedules for a $10,000,000 bond. Those illustrative, first-year payment figures presented to the committee were: about $1,000,000 for a 15‑year term; $957,000 for 20 years; $784,000 for 25 years; and $728,000 for 30 years. Several members observed that none of the sample first-year payments would fit “under the 10%” constraint discussed at the meeting.
The committee focused on two separate legal limits that will affect…
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