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North Brookfield selectmen approve 20‑year level‑principal financing for fire and highway projects
Summary
At their Jan. 20 meeting, the Town of North Brookfield selectmen voted unanimously to convert interim borrowing for recent fire and highway projects into a 20‑year, level‑principal permanent loan, a move the board said saves roughly $415,000 in interest over the life of the loan while increasing near‑term tax impacts.
At the Jan. 20 meeting, the Town of North Brookfield selectmen voted to convert interim borrowing for the town’s recent fire and highway projects into a 20‑year permanent loan using a level‑principal schedule.
The town accountant (Speaker 2) told the board the financial adviser offered multiple options — including a 27‑year level‑debt service option and a 20‑year level‑principal option — and that the permanent financing will be sought…
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