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Stonington sets 2020 mill rate, authorizes TAN borrowing and awards SHIP pier contract
Summary
Selectmen set the 2020 mill rate at 1.157 and used $150,000 from surplus, authorized up to $550,000 in tax‑anticipation notes, and awarded a SHIP-funded pier repair contract to the low bidder after engineer review.
In a series of votes spanning the town’s 2020 meetings, Stonington selectmen resolved three finance and capital actions: they set the municipal mill rate, authorized short‑term borrowing, and awarded a SHIP grant contract for pier repairs.
On June 29 the board reviewed projected revenues and surpluses and voted 5–0 to set the mil rate at 1.157, drawing $150,000 from surplus to offset taxes for the 2020 tax commitment.
On March 16, selectmen opened Tax Anticipation Note (TAN) bids and authorized issuance of up to $550,000 in TANs maturing Dec. 31, 2020. The board accepted a competitive bid and approved language permitting the Treasurer and Chairman to finalize details; counsel and bonding requirements were discussed during the bid review.
On April 6 the board opened bids for a SHIP‑funded pier project and, after engineer verification of the low bid’s completeness, accepted the low bid from Skip Eaton ($92,478.72) to proceed with pier repairs and improvements.
Each action was recorded in the minutes and will be implemented by town staff and contractors according to the board’s vote and the terms of the respective contract or financing documents.
