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Orford Selectboard approves $1.71 million loan to finance Jacobs Brook bridge repairs
Summary
The Selectboard authorized a $1,714,393 loan to finance repairs to the Archertown Road over Jacobs Brook bridge; the contractor is slated to begin work around April 20 and loan documents were signed at the April 8 meeting.
At its April 8 meeting, the Orford Selectboard voted to authorize a loan of up to $1,714,393 to finance repairs to the Archertown Road bridge over Jacobs Brook. The motion to approve the Resolution to Authorize Loan to Finance the “Jacobs Brook Bridge repairs” was made by Kevin Follensbee, seconded by Larry Taylor and passed 3–0.
The Selectboard reviewed project progress and paperwork for the line of credit. The contractor removed small trees around March 30 and is expected to begin construction around April 20. Selectboard members and the town’s finance staff signed the loan and related legal documents during the meeting; the minutes note the Treasurer, the Administrative Assistant and the Town Clerk countersigned where indicated. The loan authorization references the Municipal Finance Act, RSA Chapter 33, and Municipal Budget Law, RSA 32, and follows voter approval of Warrant Article 2 at the March 10, 2026 annual town meeting.
The resolution authorizes the town’s administrative officers to arrange and execute a loan agreement and issue a general obligation note for the project not to exceed the stated principal amount. The resolution also includes standard covenants concerning tax-exempt status, arbitrage restrictions and bond counsel review.
Votes at a glance: the motion to approve the loan resolution passed unanimously, 3–0 (Follensbee moved; Taylor seconded). The board also approved routine items elsewhere on the agenda (see Votes at a glance list below).
Next steps: the project team is expected to proceed with the contractor’s mobilization around April 20; the loan closing and note execution were advanced at this meeting so financing is in place before work begins.
