i Vv 202
RESOLUTION: R-20-035
PURPOSE: Authorizing Pennichuck Water Works, Inc. to issue notes
to TD Bank, N.A., under the Small Business
Adniinistration Paycheck Protection Program
RSERS: Mayor Jim Donchess
Alderman Richard A. Dowd
FISCAL NOTE: None.
ANALYSIS
This resolution approves the proposal by d Pennichuck Water Works to issue one or more
notes to TD Bank, N.A., under the Small Business Administration Paycheck Protection Program
as described in the resolution.
Pennichuck has provided additional information 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/ Steven A. Bolton
Date: May 1, 2020
