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Select Board records bond resolution language to finance $3.5M Jaffrey fire station expansion
Summary
The Select Board reviewed resolution language authorizing a $3.5 million bond to expand Jaffrey’s fire station at 138 Turnpike Road; the resolution specifies a 20-year note and a net interest cost rate up to 5% and names the New Hampshire Municipal Bond Bank as the purchaser.
The Select Board reviewed and recorded resolution language authorizing the issuance of a $3.5 million bond to finance an expansion of the Jaffrey Fire Department’s station at 138 Turnpike Road. The resolution describes a 20-year note and sets a net interest cost rate of 5.00% per annum or a lower rate determined by a majority of the board; it also provides for sale to the New Hampshire Municipal Bond Bank and authorizes town officers to execute the loan agreement and related documents.
Board materials state the financing will proceed under the Municipal Finance Act, Chapter 33, N.H.R.S.A., and the New Hampshire Municipal Bond Bank Law, Chapter 35-A, N.H.R.S.A. The resolution text printed in the minutes includes standard authorization clauses and a statement that the project’s useful life exceeds 20 years.
The transcript prints the full RESOLVED language but does not include an explicit roll-call or recorded vote adopting the resolution in the minutes text. The minutes therefore record the approved debt-authorizing language and the statutory citations but do not show a separate motion or tally in the meeting record.
