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Select Board adds and approves bond documents for new Public Works building
Summary
The Select Board added signing of three bond documents for the new Department of Public Works building to tonight's agenda and approved them by voice vote; staff said the bond will replace bridge financing with a 30‑year bond.
Select Board members approved motions to sign three bond documents related to the town's new Department of Public Works building: a general obligation bond document, a resolution and certificate, and a loan agreement to be signed by the chair. Sam (speaker 9) moved to approve the general obligation bond document and the motions were seconded and carried by voice vote.
Town staff explained the financing sequence: the town used bridge funding to take possession of the building and will replace that interim loan with a longer‑term bond. "We had to go to the bank and borrow that money from them. And now this is the bond. We'll pay off that loan, and then it's just a 30‑year bond to start the full repayment," Joe (speaker 2) said. The board signed the documents as presented.
