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Troy selectmen back $2.291 million in water and sewer warrant articles; public hearing set Feb. 5
Summary
Troy Selectmen voted 3-0-0 to support three water and sewer warrant articles totaling $2,291,000 and scheduled a public hearing for Feb. 5 at 6 p.m.; the articles include one grant-funded $100,000 request and two bond proposals with estimated annual payments depending on term length.
Troy — The Troy Select Board voted unanimously Jan. 22 to support three warrant articles proposed by the Water and Sewer Commission that together total $2,291,000 and to schedule a public hearing on the articles for Thursday, Feb. 5 at 6 p.m. at the community center.
Members of the Water and Sewer Commission presented the measures to the board. The first article is for $100,000 and would be covered by state grant funds. The second article is for $600,000 with an estimated annual payment of $41,998.92 over 20 years or $33,257.43 over 30 years. The third article is for $1,591,000 with an estimated annual payment of $111,367.19 over 20 years or $88,187.61 over 30 years. Commission members noted that the town’s 2007 sewer bond is scheduled to be paid off in 2027 and the 2010 water bond in 2029.
Selectman Richard H. Thackston, III moved to support the Water & Sewer warrant articles as submitted; Selectman T.J. Chasse seconded and the board voted 3-0-0 in favor. The board and commission set the public hearing to allow residents to review project details and to ask questions before Town Meeting.
Why it matters: If voters approve the bond articles, the town will add long-term debt service to future budgets; the large article carries an estimated annual debt-service cost in six figures under a 20-year amortization. The grant-covered $100,000 request would reduce the town’s share for one project. The board did not set final bond terms; those choices (20- vs. 30-year amortization) will affect annual payments.
The Select Board will take public comment at the Feb. 5 hearing and then will include the warrant articles on the town meeting warrant for voter consideration.
