Special Board of Aldermen Public Hearing — 12/16/2019 Page 13
Ms. Fauteux
Yes.
Attorney Bolton
It will close in February.
Mr. Teeboom So you're not paying off the bond, you are going to take the proceeds, the cash proceeds and put it
into this facility, rather than pay off the bond? You are not paying off the Burke Street bond?
Attorney Bolton
That’s correct.
Mr. Teeboom Is that correct, is that a legitimate use? | mean that building was bonded, so now you are not paying
off the bond but you are selling the building. Is that a legitimate financial transaction Mr. Fredette.
Mr. Fredette
Yes. This all went through Bond Counsel and Financial Advisors, this is how it is treated.
Mr. Teeboom Everything goes through Bond Counsel, the Bond Counsel makes a lot of money handling the City
of Nashua’s bonding. | know, I’ve dealt with the Bond Counsel.
Chairman Dowd
Mr. Teeboom, if you have any other questions, you need to come up at the next period.
Mr. Teeboom No! won't come back, | do endorse it. | think that building, that building is a disaster, should have
never been bought. So some cost, part of many bad decisions made by the City.
Chairman Dowd
Thank you. Anyone else who wants to testify in favor of this bond?
Tom Monahan Good evening, my name is Tom Monahan, | live at 28 Swart Terrace in Nashua. | want to
commend the Public Works Commissioners and the Committee for their foresight in thinking and using some
available land to replace some really depleted, deplorable buildings. Our workers deserve a good environment
and this is a wonderful step in that direction. So thank you.
TESTIMONY IN OPPOSITION - None
TESTIMONY IN FAVOR - None
TESTIMONY IN OPPOSITION - None
Chairman Dowd
Seeing no one, I'll close the Public Hearing on R-19-187.
