LEGISLATIVE YEAR 2021
RESOLUTION: R-21-191
PURPOSE: Changing the purpose of two million dollars ($2,000,000) of
unexpended bond proceeds from the Broad Street Parkway
project to the Division of Public Works Office Facility project
SPONSOR(S): Mayor Jim Donchess
COMMITTEE Budget Review Committee
ASSIGNMENT: Board of Public Works
FISCAL NOTE: Spend $2,000.000 on a capital project from unspent bond proceeds
approved under R-08-111. The remaining balance in the Broad Street
Parkway Capital Project after the repurposing will be approximately
$1,100,000.
ANALYSIS
Resolution R-08-111 authorized bonding for the Broad Street Parkway project. That project is
mostly completed and it is anticipated that there will be some surplus proceeds. Those surplus
proceeds will be used on the Division of Public Works Office Facility project.
The use of bond proceeds is controlled by RSA 33:3-a. They may be spent only for purposes for
which the loan is incurred, except as the statute otherwise provides. If no expenditure of the
proceeds has been made or a balance remains after “completion” of the project, the funds may be
authorized, by a 2/3 vote, for another project eligible for bonding for an equal or longer period,
or the funds may be used to pay principal of the project's loan as it matures. RSA 33:3-a II. No
public hearing is needed under bonding requirements because the reallocation is not the
authorization of new borrowing.
However, this is a supplemental appropriation. Charter Sec. 53 permits specific non-budget,
supplementary appropriations. There should be notice and a public hearing. A two-thirds vote is
required under Charter Sec. 56-b for an item or amount not in the mayor’s budget. A roll call is
required under Charter Sec. 49.
The total amount budgeted for the new Division of Public Works Office Facility is anticipated to
be $15,150,000 as listed below.
R-19-187 - $6,000,000 Bond
R-21-190 - $3,650,000 Appropriate proceeds from sale of Burke St. Building
R-21-191 - $2,000,000 Change purpose of Broad Street Parkway unexpended bond proceeds
R-21-192 - $3,000,000 New Bond
R-20-069 - $200,000 Previous Escrows
R-19-170 - $300,000 Previous Escrows
This legislation should be referred to the Board of Public Works.
