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Jackson selects Bank of New Hampshire, schedules June 10 groundbreaking for new fire station
Summary
The Select Board voted to begin transitioning town banking to Bank of New Hampshire and to proceed with a construction loan at 5.13% interest-only through December 2026; loan documents were scheduled to be signed June 2 with a June 6 closing and a June 10 groundbreaking.
Barbara Campbell, chair of the Jackson Select Board, told the board the town will transition banking to Bank of New Hampshire and proceed with construction financing for the new fire station.
Campbell said the loan will be structured as a construction loan with an interest rate of 5.13% and interest-only payments through December 2026. She said loan documents were scheduled to be signed on June 2 with a closing on June 6. The board voted to start the process of opening town accounts with Bank of New Hampshire to facilitate the construction financing.
Robert (Bob) Thompson noted the town is also monitoring possible Bond Bank of New Hampshire rates next April; staff said the transition of utilities and services for the project is pending the co-op relocation. The board set a groundbreaking ceremony for Tuesday, June 10 at 2:00 p.m., and invited the public; invitations have already been sent.
The board recorded that Jay Henry of the fire department has approved the planned fireworks event and completed required safety inspections for the Chamber of Commerce celebration on July 6 (rain date July 13).
Next steps: staff were directed to open the new accounts, complete loan closing tasks on the June schedule, and report back to the board on the transition progress.
