LEGISLATIVE YEAR 2022
RESOLUTION: R-22-019
PURPOSE: Authorizing Pennichuck Corporation and Pennichuck East
Utility, Inc. to enter into a term loan with CoBank, ACB
ENDORSERS: Alderman Patricia Klee
COMMITTEE
ASSIGNMENT: Pennichuck Water Special Committee
FISCAL NOTE: None.
ANALYSIS
This resolution approves the proposal by Pennichuck Corporation and one of their regulated
public water subsidiaries to enter into a term loan as described in the resolution.
We have forwarded additional information provided by Pennichick on the propesal to the Board
of Aldermen.
Article [X (3) of Pennichuck Corporation’s Articles of Incorporation and Article V §2 of the
Pennichuck Corporation’s by-laws requires City approval for the borrowing.
Approved as to form: Office of Corporation Counsel
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