Charlestown Redevelopment Authority authorizes bond payment and $250,000 drawdown tied to tourism grant

At a July 2 meeting, the Charlestown Redevelopment Authority voted to authorize payment of outstanding bond debt and approved a partial drawdown of 2021 bonds to apply a $250,000 grant toward a family-activities project.

The board heard that the city "received a bond reduction grant amount of $250,000 from Soaman Tourism," according to Donna Hinniss, who spoke during the new-business discussion. The Clerk asked the board to authorize the Clerk-Treasurer to carry out a partial drawdown of the 2021 bonds in that amount to apply the grant to the project; members moved, seconded and approved the request.

Board members treated the bond authorization and the drawdown as separate actions during the meeting. The motion to authorize payment of bond debt was made and approved, after which the board took the motion to authorize a partial drawdown of the 2021 bonds by $250,000 "for the grant funds," as recorded in the meeting. The transcript identifies the grant source as "Soaman Tourism"; that name is transcribed in the record and may be a shorthand or a transcription variant of the grantor's official name.

The board recorded voice votes on the motions and indicated approval by members during each vote. The Clerk instructed that the Clerk-Treasurer should execute the drawdown; the board carried the authorization and moved on to other agenda items.

Next steps: the Clerk-Treasurer is to process the drawdown consistent with the board's authorization. The meeting then proceeded to other business and was adjourned.