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Prudential Committee approves $2.2 million Vermont Bond Bank loan for town water project
Summary
The Weathersfield Prudential Committee approved a $2.2 million loan agreement with the Vermont Bond Bank to complete a water project expected in 2026; first payment is due February 2028 and annual payments are estimated at $22,000–$27,000 (to be collected in 2027).
The Weathersfield Prudential Committee voted to approve a $2.2 million loan agreement with the Vermont Bond Bank to fund the town water project. Diana Stillson moved to approve the agreement and William Southard seconded; the motion passed and the agreement was signed.
Water Director Jeremy Currie said the project is slated for completion in 2026 and that the first loan payment is due in February 2028. He estimated the district’s payment obligation will be between $22,000 and $27,000 and said the district will need to collect that money in 2027 to make the 2028 payment. Currie said he is reviewing this year’s budget to accommodate the payment schedule. Exact repayment terms (for example, loan amortization length) beyond the stated first payment date were not specified in the minutes.
