LEGISLATIVE YEAR 2620
RESOLUTION: R-20-039
PURPOSE: Authorizing Pennichuck Corporation and Pennichuck Water
Works, Inc. to issue taxable bonds of up to $75,000,000
ENDORSERS: Alderman-at-Large Lori Wilshire
COMMITTEE
ASSIGNMENT: Budget Review Committee
FISCAL NOTE: None.
ANALYSIS
This resolution approves the proposal by Pennichuck Corporation and one of their regulated
public water subsidiaries to issue up to $75,000,000 in taxable bonds 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
By: /s/ Dorothy Clarke
Date: May 20, 2620
