R-22-029
RESOLUTION
AUTHORIZING THE MAYOR AND CITY TREASURER TO BORROW AN AMOUNT
NOT TO EXCEED SIX MILLION NINE HUNDRED THOUSAND DOLLARS
($6,900,000) THROUGH THE ISSUANCE OF BONDS AND/OR A LOAN THROUGH
THE NEW HAMPSHIRE DEPARTMENT OF ENVIRONMENTAL SERVICES STATE
REVOLVING LOAN FUND FOR THE WASTEWATER TREATMENT PLANT DRY
WELL VALVE REPLACEMENT PROJECT
CITY OF NASHUA
In the Year Two Thousand and Twenty-Two
RESOLVED by the Board of Aldermen of the City of Nashua that the Mayor of the City
of Nashua and the City Treasurer of the City of Nashua are hereby authorized to borrow up to
Six Million Nine Hundred Thousand Dollars ($6,900,000) through the issuance of bonds of the
City under the Municipal Finance Act and/or a low interest loan program offered through the
State of New Hampshire Department of Environmental Services, identified as the State
Revolving Loan Fund. The proceeds of said bonds or loans shall be used to fund the Wastewater
Treatment Plant Dry Well Valve Replacement Project. The useful life of the project shall be 20
years.
[fa bond is issued:
While the bonds shall be general obligations of the City of Nashua, payable as to
principal and interest from ad valorem taxes, which will be levied without limitation as to rate or
amount on all taxable property within the territorial limits of the City of Nashua, it is the intent
of the City that the principal and interest on any such bonds shall be paid for by revenues
received by the Wastewater Enterprise Fund.
The bonds shall bear the manual and facsimile signature of the City Treasurer and the
Mayor. In accordance with Chapter 91 of the New Hampshire Acts of 2005, bonds issued
pursuant to this resolution shall not require an authenticating certificate of a bank or trust
company doing business in the State of New Hampshire or the Commonwealth of Massachusetts,
or the Commissioner of Revenue Administration.
The bonds are to be issued in fully-registered form by means of a book-entry system or
otherwise and shall have such terms and conditions and be in such form, subject to the provisions
of this resolution and applicable law, as shall be determined by the Mayor and the City
Treasurer.
