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Town approves $392,500 borrowing adjustment to preserve MWRA funding eligibility
Summary
Town meeting rescinded a prior cash appropriation and authorized borrowing of $392,500 to comply with MWRA and loan-covenant requirements; town staff said the new borrowing would impose minimal annual debt service below $40,000 and would not trigger a water-rate increase.
Town meeting considered Article 4, a two-part motion that rescinded a prior appropriation for a MWRA-related project and simultaneously authorized a new appropriation of $392,500 to be financed by borrowing under M.G.L. Chapter 44. The Finance Commission reported unanimous support for the action.
Town staff explained that the Massachusetts Water Resources…
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