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Brookline treasurer seeks $250,000 line of credit to cover summer cash flow
Summary
Treasurer Melissa Brown said she is arranging a $250,000 line of credit to cover short-term cash-flow needs while multiple highway projects proceed; the line would charge interest only while funds are drawn and have no prepayment penalty.
Melissa Brown, the Town Treasurer, told the Selectboard she is in the process of obtaining a $250,000 line of credit to smooth cash flow while three major highway projects proceed this summer (Hill Road bridge repairs, Ellen Ware Road culvert replacement and Grassy Brook Road paving). Brown said the line would incur interest only on amounts drawn, with no additional fees or prepayment penalties, and that the Town would likely need to activate it in August based on projected expenditures.
Board members discussed timing and noted cash-flow demands while several projects overlap. No formal vote to draw on the line of credit was taken at the meeting; Brown presented the plan as a financing option the Town could use if needed.
