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Norwood finance commission backs $3.7 million borrowing for water-tank replacement
Summary
At its May 1 meeting the Town of Norwood Finance Commission unanimously approved recommending $3.7 million in borrowing for a water-tank replacement project, citing the tanks' age and a state reimbursement deadline.
The Town of Norwood Finance Commission voted unanimously May 1 to recommend borrowing $3,700,000 to replace the town’s aging water tanks.
Finance Commission members were told by commission leadership that Jeff O'Neil had emailed that the town risks losing state reimbursement if it does not enter a contract by June. Commission members said the warrant article is numbered 07 on the special/annual meeting documents and that the earlier placeholder…
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