Hollis Select Board approves $2.77 million bond to rebuild transfer-station wall, fund solar array

Clerk (speaker 1) read a certificate of vote and the Hollis Select Board voted unanimously on June 8 to authorize a $2,770,000 bond through the New Hampshire Municipal Bond Bank.

The bond will finance two projects: reconstructing the transfer-station wall at an estimated $2,400,000 and designing, permitting, purchasing, installing and commissioning a solar photovoltaic array at the Public Works cold storage building at 10 B Muzzy Road, estimated at $370,000. "Town of Hollis, is the issuer," the clerk read during the formal certificate of vote, which the board adopted as presented.

The certificate and accompanying resolutions reference applicable state law and municipal finance statutes. The board confirmed the bond will be sold to the bond bank at par value and authorized the treasurer and a member of the board to execute the loan agreement and related documents on behalf of the town. The clerk read that the loan agreement includes a net interest cost rate provision and a maturity schedule described in the loan agreement’s exhibit.

Board members moved and seconded the motions required to adopt the certificate of vote and then to approve the loan agreement; both motions passed by voice vote. The board recorded that the meeting was open to the public, no executive session was used for the vote, and that the minutes would be made available in accordance with state law.

The immediate next steps discussed were execution of the loan paperwork by authorized town officers and completing any remaining administrative items to close on the borrowing. The board did not discuss a construction schedule during the vote; financing and contract details will be handled in subsequent administrative steps.