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Plymouth board authorizes $850,000 general obligation note for public safety land purchase
Summary
The Select Board approved resolutions and forms authorizing an $850,000 general obligation note with Meredith Village Savings Bank at 4.35% to finance the purchase of land for a future public safety complex and approved associated tax‑exempt bond forms.
The Plymouth Select Board on Tuesday approved a set of resolutions and documents authorizing the town to issue an $850,000 general obligation note to finance the purchase of two parcels for a future public safety complex.
Town staff presented closing documents that have been reviewed by legal counsel, including a resolution of the governing board, signature and no‑litigation certificates, and tax‑exempt bond information returns (Form 8038‑G). The note was described in the meeting as a general obligation note with Meredith Village Savings Bank, at an interest rate of 4.35 percent and a five‑year maturity.
A board member moved and the board approved the resolution, the no‑litigation certificate and the information return. Town staff said deeds would be recorded soon and the town expects to hold the property and allow the fire department to stage vehicles on the site while further planning for a public safety complex continues.
The board discussed timing and signatures; recorded votes approved the documents and authorized the town to take ownership of the properties once recorded.
