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Board approves $15,000 engineering payment and hires bond counsel for Home City Road water project
Summary
The board approved a $15,000 payment to Johnson and Associates for engineering services and voted to hire financial/bond counsel (not-to-exceed amount discussed) to assist financing and grant work for the Home City Road water project.
The chair moved that the town pay Johnson and Associates $15,000 for professional engineering services; the motion was seconded and approved by voice vote.
The board also approved hiring bond counsel and financial advisory services to support the Home City Road water project and to pursue low-interest financing or grant funding. The chair described the adviser’s role as helping "turn this from a band to a bond" and assisting with loan, grant and anticipation-note administrative services; the board recorded a not-to-exceed figure during discussion (reported in the meeting as $45,000). The motion to hire counsel was seconded and approved on a voice vote.
No roll-call tallies were recorded in the minutes provided; the chair solicited a second and called for those in favor, with the board responding "aye." The motions covered payment for immediate engineering work and authorization to engage financial advisers to pursue bond issuance or grant opportunities to reduce the town’s borrowing costs for the water project.
