LEGISLATIVE YEAR 2020
RESOLUTION: R-20-043
PURPOSE: Authorizing Pennichuck Corporation and Pennichuck East
Utility, Inc. to enter into a term Joan and renew a fixed asset
line of credit with CoBank, ACB
ENDORSERS: Alderman-at-Large Lori Wilshire
COMMITTEE
ASSIGNMENT: Pennichuck Special Water Committee
FISCAL NOTE: None.
ANALYSIS
This resolution approves the proposal by Pennichuck Corporation and one of their regulated
public water subsidiaries to enter into a term loan and renew a fixed asset letter of credit as
described in the resolution.
We have forwarded additional information provided by Pennichick on the proposal to the Board
of Aldermen.
Article IX (3) of Pennichuck Corporation’s Articles of Incorporation and Article V §2 of the
Pennichuck Corporation’s by-laws requires City approval for the borrowing.
Approved as to form: Office of Corporation Counsel
my Deer Clot
Date: Aye 3, FOIO
