Uxbridge Select Board approves Clean Water Trust financing terms authorizing up to $19.5 million in bonds

The Town of Uxbridge Select Board on Sept. 8 voted to accept the financing terms for a drinking-water infrastructure project, authorizing issuance of bonds or notes in an aggregate principal amount not to exceed $19,500,000 and granting officials authority to execute financing and regulatory agreements.

A clerk read the financing vote in full, including statutory and procedural language referencing chapters 29C and 44 of the Massachusetts General Laws and the project regulatory agreement with the Department of Environmental Protection. The reading says, in part: "the town shall issue a bond or bonds in an aggregate principal amount not to exceed $19,500,000." The readback also authorized the treasurer to issue interim loan notes and provided that electronic delivery of executed counterpart signatures would be effective as originals.

Following the reading, Selectman Brian Plasco moved to approve the financing vote as read; Selectman Wise seconded the motion. The board approved the motion on a roll-call vote with Selectmen Plasco, McMillan, Butler, Wise and Glasgow recorded as voting yes.

Meeting materials and the read text state that the treasurer is authorized to determine dates, forms, maximum interest rates and maturities for bonds and notes, and to execute financing agreements with the Clean Water Trust. The vote also ratified prior project actions taken by town officers and authorized any further actions necessary to carry out the financing.

The Select Board’s action is an authorization to proceed with municipal financing steps; actual bond issuance, interest rates and final maturities will be set later by the treasurer consistent with the approved financing agreement. The board packet and the town clerk’s official record contain the complete text of the vote and associated documents.