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Select Board approves FY27 fees, short‑term note sale and new utility rates
Summary
The Nahant Select Board on July 15 approved the FY27 master fee schedule, authorized a $5.72 million sale of bond anticipation notes to Truist Securities, and adopted new water, sewer and trash rates for FY27, which town officials said were driven by MWRA assessments and contract costs.
The Nahant Select Board on July 15 voted to approve the town’s FY27 master fee schedule, authorized the sale of $5,721,084 in 4% general‑obligation bond anticipation notes, and adopted new water, sewer and trash rates for the coming year.
The Clerk of the Select Board moved the motions and read the formal certification of the note sale, which authorizes the town to sell the notes dated July 24, 2026 and payable July 23, 2027 to Truist Securities Incorporated. The certification included ratification of the notice and official statements, authorization for continuing‑disclosure and post‑issuance federal tax compliance procedures, and permission for electronic signatures on documents. The board unanimously approved the votes as presented.
Town Administrator (speaker 1) described the fee schedule as the product of departmental submissions and noted several items reflect collective‑bargaining agreements for police and fire details. She said the town is replacing water meters and that the increased unit cost for meters is reflected in the fees. On trash, she said a one‑year extension of the household collection contract is the main driver of a roughly 6% increase.
The board adopted the FY27 utility and trash rates as read: a water charge of $11.42 per 100 cubic feet, a sewer charge of $13.97 per 100 cubic feet, and a trash fee of $456 per residential household and $600 per commercial property. The Town Administrator said the water increase is about 3% and sewer about 4%, driven primarily by the Massachusetts Water Resources Authority assessments and operating costs.
On debt policy, the Town Administrator explained the town’s recurring practice of issuing one‑year notes and paying down principal annually rather than issuing long‑term bonds, and said the current short‑term borrowing covers a mix of paving authorizations, Community Preservation projects and prior Shore Dune Beach borrowing.
What happens next: the formal documents for the note sale will be executed by authorized town officers and the town treasurer will implement post‑issuance compliance and continuing disclosure procedures as approved by the board.
Votes at a glance: the meeting record shows the board voted to approve the community event request (Seaside Sirens concert), the FY27 master fee schedule, the $5,721,084 note sale and the FY27 water, sewer and trash rates; the votes were recorded by roll call and certified in the meeting record.
