RESOLUTION:
PURPOSE:
ENDORSER(S):
COMMITTEE
ASSIGNMENT:
FISCAL NOTE:
LEGISLATIVE YEAR 2022
R-22-013
Authorizing the Mayor and City Treasurer to issue bonds not
to exceed six million two hundred eight thousand three
hundred twenty-five dollars ($6,208,325) for the City’s sewer
infrastructure program and sewer siructures
Mayor Jim Donchess
Budget Review Committee
Board of Public Works
[t is anticipated the bond would be soid in FY23 fora term of
twenty or twenty-five years. I[t is estimated the interest rate will be
approximately 2.5% and the total cost of the bond wili be
approximately $7,238,010 including interest. The average annual
payrnent will be approximately $391,900 with the beginning years
at a higher amount.
ANALYSIS
This resolution authorizes the Mayor and the City Treasurer to issue and sell general obligation
bonds up to $6,208,325 for the annual sewer infrastructure program and sewer structures. This
project can be found in the Capital Improvements Program for FY 2022.
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 members for passage of this
Resolution.
This Resolution should be referred to the Board of Public Works for its review and approval.
Approved as to account
Financial Services Division
number and/or structure,
and amount:
Approved as to form:
By:_/s/ John Griffin
Office of Corporation Counsel
By: Vr Hon, (pn AQ
Date: | G Hacatasuca A202: A
