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Selectboard accepts $20,000 letter of credit and $500 surety for Goodrich Trail license agreement
Summary
The Westford Selectboard voted 4-0 to accept a $20,000 letter of credit and a $500 check to satisfy a $20,500 surety requirement for the Goodrich Trail license agreement; the $500 will be held in a non‑interest account until required improvements are completed.
Julia Andrews, a Selectboard member, moved that the town accept a $20,000 letter of credit and a $500 check to satisfy the $20,500 surety required by the Goodrich Trail license agreement; Deb Jorschick seconded the motion and it passed 4–0. The town attorney had advised that the $500 could be accepted as a check and held until construction is complete; the minutes note an escrow agreement as an alternative but one that would impose more administrative work on the town.
The board recorded that EastRise provided a line-of-credit product but it only covers part of the required surety, leaving the $500 gap. The motion directs the town to deposit the $500 into a non‑interest bearing account pending completion of the required improvements. No further timetable or bonding conditions were listed in the minutes.
