LEGISLATIVE YEAR 2021
RESOLUTION: R-21-127
PURPOSE: Authorizing the Mayor and City Treasurer to issue bonds not
to exceed the amount of five million four hundred eight
thousand dollars ($5,408,000) for the city’s Sewer
Infrastructure Program
SPONSOR(S): Mayor Jim Donchess
COMMITTEE Budget Review Committee
ASSIGNMENT: Board of Public Works
FISCAL NOTE: It is anticipated that the bond would be sold in FY 22/23 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 $6,827,000 including interest. The average annual
payment will be approximately $341,000 with the beginning years
at a higher amount.
ANALYSIS
This resolution authorizes the City to issue and sell general obligation bonds up to $5,408,000
for the annual sewer infrastructure program. This project can be found in the Capital
Improvements Program for FY 2021.
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 Financial Services Division
structure, numbers
Approved as to form: Office. of Corporation Counsel
ay Wyn ba CborMe
Date: Af se ( ‘ eo
NJ] SI
