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 performing arts center, have been raised. Fhis-resehition shall-expire-tveo-years fom
its- effective date Hithe-event-that-fourmillion-dollars-{$4,009-009)-has-net been taised prierie
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