Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Fenton approves Abstract #5, selects NBT Bank for truck bond anticipation notes
Summary
The Town Board approved Abstract #5 (including a questioned voucher allocation), accepted NBT Bank for bond anticipation notes to finance two highway trucks at 3.75% interest, and discussed Clean-Up Day voucher expenses.
At its May 27 work session the Town of Fenton Town Board approved Abstract #5, 2026, and selected NBT Bank to provide bond anticipation notes for two previously purchased highway trucks.
Deputy Supervisor Thomas Moss and Bookkeeper Mark Hillman questioned Voucher #258 (BTC Concrete Supply, Inc.) and whether the $275 charge for concrete blocks for the water tank property should come from the Hillcrest Water District Fund rather than the General Fund; the board reviewed departmental responsibility and accepted the abstract after discussion. Councilman Thomas Cook moved and Thomas Moss seconded approval of Abstract #5; roll-call vote recorded Cook aye, Husar absent, Moss aye, Pray aye, Gunster aye.
The board also decided to use NBT Bank for 1-year bond anticipation notes to refinance amounts related to two 2024 trucks — a Ram 4500 and a Mack Granite — at an interest rate of 3.75%. Councilman Thomas Cook moved to accept NBT Bank; the motion carried on roll-call vote (Cook aye; Husar absent; Moss aye; Pray aye; Gunster aye). Board members asked whether amounts shown on the renewal document represented remaining balances and which trucks the bonds covered; the town attorney and supervisor clarified the notes reference 2024 purchases and the total owed as shown on the document.
The board briefly noted Clean-Up Day expenses for dumpsters and a porta-potty that appear on the abstract.
What happens next: Bookkeeping staff will reconcile departmental fund charges and finalize BAN paperwork with NBT Bank for the highway trucks.
