R-20-037
RESOLUTION
AUTHORIZING THE MAYOR AND THE CITY TREASURER TO ISSUE BONDS NOT
TO EXCEED THE AMOUNT OF TWENTY MILLION DOLLARS ($20,000,000) TO
REFUND ALL OR A PORTION OF CERTAIN OUTSTANDING BONDS OF THE CITY
IN ORDER TO ACHIEVE INTEREST COST SAVINGS
CITY OF NASHUA
in the Year Two Thousand and Twenty
RESOLVED by the Board of Aldermen of the City of Nashua that the Mayor of the City
of Nashua and the City Treasurer of the City of Nashua are hereby authorized, to issue and sell,
general obligation refunding bonds of the City under N.H. RSA 33:3-d, in an aggregate principal
not to exceed twenty million dollars ($20,000,000). The proceeds of said bonds shall be used to
pay (i) all or part of the outstanding principal amount of and redemption premium and interest on
any bonds of the City that are outstanding as of the date of adoption of this resolution, and (ii) all
costs of issuance of such refunding bonds.
Pursuant to both Nashua City Charter §54-a and N.H. RSA 33:3-d, this resolution
requires a duly advertised public hearing with at least seven days’ notice before the hearing is
heid. Also see N.H. RSA 33:9, which requires a 2/3 vote for passage of this resolution.
The bonds shall be general obligations of the City, payable as to principal and interest
from ad valorem taxes which will be levied without limitation as to rate or amount on all taxable
property within the territorial limits of the City.
The bonds shall bear the manual or facsimile signature of the City Treasurer and the
Mayor. In accordance with Chapter 91 of the New Hampshire Acts of 2005, bonds issued
pursuant to this resolution shall not require an authenticating certificate of a bank or trust
company doing business in the State of New Hampshire or The Commonwealth of
Massachusetts, or the Commissioner of Revenue Administration. The bonds are to be issued in
fully-registered form by means of a book-entry system or otherwise and shall have such terms
and conditions and be in such form, subject to the provisions of this resolution and applicable
law, as shall be determined by the Mayor and the City Treasurer,
RESOLVED FURTHER that the City Treasurer, with the approval of the Mayor, is
authorized to sell any refunding bonds or notes authorized by this resolution through a
competitive or negotiated sale, and to enter into any and all required contracts therefore,
including a bond purchase agreement in the case of a negotiated sale, and a refunding trust or
escrow agreement.
