RESOLUTION:
PURPOSE:
SPONSOR():
COMMITTEE
ASSIGNMENT:
FISCAL NOTE:
LEGISLATIVE YEAR 2021
R-21-107
Authorizing the Mayor and City Treasurer to issue bonds not
to exceed the amount of five million one hundred fifty
thousand dollars ($5,150,000) for the city’s Sewer
Infrastructure Program
Mayor Jim Donchess
it is anticipated that the bond would be sold in FY 22 for a term of
twenty or twenty-five years. It is estimated the interest rate will be
approximately 2.5% and the total cost of the bond will be
approximately $6,501,800 including interest. The average annual
payment will be approximately $325,000 with the beginning years
at a higher amount.
ANALYSIS
This resolution authorizes the City to issue and sell general obligation bonds up to $5,150,000
for the annual sewer infrastructure program. This project can be found in the Capital
Improvements Program.
Pursuant to Nashua City Charter §54-a, this resolution requires a “duly advertised public
hearing”. Also see NH RSA 33:9, which requires a 2/3 vote of all the members for passage of
this resolution.
This legislation should be referred to the Board of Public Works for its review and approval.
Approved as to account
structure, numbers,
and amount:
Approved as to form:
Financial Services Division
By: _/s/John Griffin
Office of Corporation Counsel
By: Meuban Cur» Ke
Date: &% OD ot
