Proposed Amendment made in Budget Review 02-08-20 AMENDED
R-20-001
RESOLUTION
SECOND AMENDMENT TO R-18-001 “AUTHORIZING THE MAYOR AND CITY
TREASURER TO ISSUE BONDS NOT TO EXCEED THE AMOUNT OF FIFTEEN
MILLION FIVE HUNDRED THOUSAND DOLLARS ($15,500,000) FOR THE
PERFORMING ARTS CENTER LOCATED AT 201 MAIN STREET”
CITY OF NASHUA
In the Year Two Thousand and Twenty
WHEREAS, the Board of Aldermen passed R-18-001 “Authorizing the Mayor and City
Treasurer to issue bonds not to exceed the amount of fifteen million five hundred thousand
dollars ($15,500,000) for the Performing Arts Center located at 201 Main Street” on February
13, 2018.
WHEREAS, the Board of Aldermen passed R-18-092 on December 11, 2018, which
amendment allowed borrowing for the design of the project prior to the raising of $4,000,000 in
private funds, including New Market Tax Credits, for the new performing arts center.
WHEREAS, the Board of Aldermen would like to further amend resolution R-18-001.
NOW THEREFORE, BE IT RESOLVED by the Board of Aldermen of the City of
Nashua that the following paragraph of R-18-001, as amended by R-18-092, be further amended
by deleting the struck through language as follows:
No borrowing for the renovation or construction of a new performing arts center, except for costs
related to acquiring and securing (for safety and security purposes) the property anticipated to be
used as a new performing arts center and for the design of the new performing arts center, shall
occur until such time as the Mayor has determined that private funds, including New Market Tax
Credits, totaling at least four million dollars ($4,000,000), to be used towards such new
pees arts center, have been raised. Be eee ee Bee ee
our a 4-900-006 ate-This
SHOR shall expire on Gide 31, 2021 i in the event the $4, 000, 000i is not aised prior to
that date.
