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Selectmen approve MWRA sewer bond, $39,250 annual payments 2026–2035
Summary
The Board of Selectmen approved a Massachusetts Water Resources Authority (MWRA) sewer loan agreement and bond and authorized town officers to execute the loan documents; the bond will be repaid in equal principal installments of $39,250 annually from 2026 through 2035.
The Town of Norwood Board of Selectmen voted Tuesday to approve a Massachusetts Water Resources Authority sewer loan and bond and authorized town officials to execute related loan documents.
The board’s motion described a $392,500 bond for sewer work with annual principal payments of $39,250 starting May 15, 2026, and continuing in equal installments through 2035. The board recorded the vote as a housekeeping item at the meeting and asked that the motion be included in the public minutes.
Town Treasurer and other appropriate officials were authorized to sign loan and financial assistance documents with the MWRA so the town can proceed with the financing plan. The motion was made by Selectman Bill Plasco and seconded by Selectman Donnelly, and those present voted unanimously in favor.
Why it matters: approving the MWRA loan commits the town to a 10-year repayment schedule that will be accounted for in future budgets. The board did not discuss changes to the principal schedule at the meeting; the motion and repayment schedule were entered into the record as described.
What’s next: the board’s authorization allows the treasurer and other town officers to finalize the loan paperwork with the MWRA and to carry the repayment schedule into the town’s fiscal planning.
