Committee reviews electric fund capital projects, submarine cable engineering and town debt profile

The committee reviewed capital outlays in the municipal electric fund and a broader update on the town’s debt profile.

Town manager Jim pointed to two electric capital items: masonry/window/awning work at the Armory (quoted in the meeting at about $80,000) and engineering for a submarine cable to islands (engineering estimated at $90,000; total project costs to be determined after permitting and cost estimates). Jim said the submarine cable would be funded by electric ratepayers rather than by property tax and that permitting and routing remain the near‑term tasks.

Committee members asked whether the cable route extended past town lines and how the service area maps would affect customers; staff said the current engineering terminates near the Brookfield town line and does not reach further neighborhoods.

Later in the meeting, Jim summarized debt‑service policy and practice: New Hampshire Bond Bank rules and the statutory borrowing cap were discussed; staff noted town debt remains within conservative thresholds, with total outstanding debt cited in the discussion at roughly $33 million and an estimated debt‑service share of the general fund near the committee’s target ceiling (around 13% as discussed). Speakers emphasized the town’s debt ratios remain low relative to statutory caps and the bond bank’s expectations. Jim said several large bonds (20‑year) remain active and some sewer debt will drop off in the 2029–2030 window.

Members asked for links to the CIP documents and debt schedules on the town website; staff said those documents are available online and in the town office.