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Belgrade signs declaration of intent to secure temporary financing for fire station project
Summary
The select board approved a declaration of official intent that documents proof of funds for the new central fire station; the board added a proviso that any draw on those funds must return to the board for a majority vote.
The Belgrade Select Board on Feb. 3 approved a declaration of official intent to document temporary financing availability for the town’s new central fire station project while bond bank, USDA and RFP processes proceed.
Staff explained the declaration allows the town to demonstrate proof of funds and to borrow internally on a temporary basis if needed until external financing is finalized. Several members emphasized that signing the declaration does not obligate the town to use the funds. The motion approving the declaration included a proviso requiring the board to vote again before any funds are actually drawn.
Board members said bond‑bank application materials and the financing RFP are underway: RFP responses for the central fire station are due Feb. 12 and staff will compile results for the Feb. 17 meeting. Officials also reported they will meet with the USDA representative by Teams to discuss grant and loan timing and requirements.
The board approved the declaration by voice vote and directed staff to ensure the proviso requiring a subsequent board vote is included in the executed paperwork.
