LEGISLATIVE YEAR 2018
RESOLUTION: R-18-081
PURPOSE: Authorizing the Mayor and City Treasurer to issue bonds not
to exceed the amount of six hundred sixty thousand dollars
($660,006) to purchase a new pumper truck for the Fire
Department
Mayor Jim Donchess
Alderwoman Mary Ann Melizzi-Golja
COMMITTEE
ASSIGNMENT:
FISCAL NOTE: {tis anticipated that the bond would be sold in FY 20/21 for a
fifteen year term. It is estimated the interest rate will be
approximately 3.5% and the total cost of the bond will be $844,800
including interest. The average annual payment will be
approximately $56,320 with the beginning years 2 at a higher
amount. The vehicle was approved in the FY 19 CERE
schedule/budget.
ANALYSIS
This resolution authorizes the City to issue and sell general obligation bonds up to $660,000 for the
purchase of a new pumper truck for the Fire Department. The pumper truck was approved in the
FY 2019 Capital Equipment Reserve Fund plan.
Pursuant to Nashua City Charter on -a, this resolution requires a “duly advertised public
hearing”. Also see NH RSA 33:9, which requires a 2/3 vote for passage of this resolution.
This legislation should be referred to the Board of Fire Commissioners for its review and
approval.
Approved as to account Minang) Services Division
structure, numbers and
amount: By: Amal Bu. a
Approved as to form: Office of Corporation Eounsel
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By: Prrony, Cat (2
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Date: ods Men. PO Sug
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