R-22-020
RESOLUTION
AUTHORIZING THE MAYOR AND THE CITY TREASURER TO ISSUE BONDS NOT
TO EXCEED THE AMOUNT OF THIRTY-SEVEN MILLION FIVE HUNDRED
THOUSAND DOLLARS ($37,500,000) TO FUND THE SECOND FIVE YEAR PHASE
OF A TEN YEAR PAVEMENT MANAGEMENT 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 issue and sell
general obligation bonds of the City, in an aggregate principal not to exceed Thirty Seven
Million Five Hundred Thousand ($37,500,000). The proceeds of said bonds shall be used over
the second five-year phase of a 10-year pavement management project with the goal of bringing
the average pavement condition index (PCI) of the 300-mile road network to at least 87 (which is
an ASTM standard for a good service condition) at the end of 10 years. The project will
implement various pavement treatment and repair methods including routine maintenance,
preventative maintenance, structural improvement and base rehabilitation. The project also
includes work related to periodic pavement condition surveys, analyses and reporting,
management system updating, bidding documents, construction quality control and material
testing. The t0-year pavement management project followed by maintenance as needed is
expected to extend the life of the road network by 20 years.
Pursuant to Nashua City Charter $54-a, this resolution requires a ‘‘duly advertised public
hearing.” Also sce N.H. RSA 33:9, which requires a 2/3 vote for passage of this resolution.
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.
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.
