Select Board OKs $1 million internal advance to seed $7.9M solar project fund
Winchester’s Select Board approved a $1,000,000 internal advance from free cash to a new solar-panel fund to cover vendor deposits for a planned ~$7.9 million solar project; officials said the loan will be repaid when the town issues debt next year.
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The Select Board approved an internal advance of $1,000,000 from free cash into a newly created solar panel fund to provide cash for vendor deposits tied to a planned roughly $7.9 million municipal solar project. Town financial staff said the advance gives the town the ability to make required deposits and pay near-term vendor bills before going to the market for long-term financing.
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