Board of Aldermen 05-04-2020 Page 8
consumption months which typically start in say the October timeframe and last until about this time. So this
is before people are starting to water their lawn but we also came out of a year last year where believe it or
not we had a very wet spring in May and June of last year and as such our water usage was lower the first
part of the year, so we actually had revenues that were below what we would have expected for the full year
of 2019.
We also are in the pendency of a rate case seeking rate recovery. We haven't had an adjustment to our
rates, our permanent rates since the 2016 year. That case is in pendency; so part of where we are at in the
line of credit is based on 2019’s overall performance, the time of year it is in 2020 and the fact that we are
awaiting rate relief relative to the rate case. That rate case is hopefully going to be concluded this fall,
however, you know, it is a process that takes time and there are certain latitudes as to whether it is going to
be completed this fall or it will fall into the beginning of next year which actually adds one more layer of the
requirement for this money as a bridge to that end game.
Alderwoman Kelly
Thank you very much.
President Wilshire
Anyone else, questions for Mr. Goodhue? Seeing none, would the Clerk please read the new business?
NEW BUSINESS — RESOLUTION
R-20-035
Endorsers: Mayor Jim Donchess
Alderman Richard A. Dowd
AUTHORIZING PENNICHUCK CORPORATION AND PENNICHUCK WATER WORKS, INC. TO
ENTER INTO A SMALL BUSINESS ADMINISTRATION PAYCHECK PROTECTION PROGRAM LOAN WITH
TD BANK, N.A.
Given its first reading
There being no objection President Wilshire suspended the rules to allow for a second reading of
R-20-05
R-20-035
Endorsers: Mayor Jim Donchess
Alderman Richard A. Dowd
AUTHORIZING PENNICHUCK CORPORATION AND PENNICHUCK WATER WORKS, INC. TO
ENTER INTO A SMALL BUSINESS ADMINISTRATION PAYCHECK PROTECTION PROGRAM LOAN WITH
TD BANK, N.A.
Given its second reading
MOTION BY ALDERMAN O’BRIEN FOR FINAL PASSAGE OF R-20-035 BY ROLL CALL
ON THE QUESTION
Alderman Jette
| was going to say this before, but | couldn’t get your attention. | want to compliment you Mr. Goodhue on
sending that letter. I’d also like to compliment Attorney Bolton for requesting it. It is really helpful for I’m sure
all the Aldermen, but for me in particular to receive that kind of information ahead of the meeting so we can
figure out what this all about. So | appreciate that and the letter explained in detail why you are asking for
