Board of Aldermen Page 7
April 26, 2016
There being no objection, President McCarthy accepted the appointments by the Mayor as read
and referred them to the Personnel/Administrative Affairs Committee.
REPORTS OF COMMITTEE
Human Affairs COMMIttee....... oc cecccecccecece cece vecevecevereververeververeeeraees 04/11/16
There being no objection, President McCarthy declared the report of the April 11, 2016
Human Affairs Committee accepted and placed on file.
Pennichuck Water Special Committee ............. cece ee eeeeeeeeeeeeeeeeeeeeeeeees 04/19/16
There being no objection, President McCarthy declared the report of the April 19, 2016
Pennichuck Water Special Committee accepted and placed on file.
Substandard Living Conditions Special Committee..............0.. eee 04/14/16
There being no objection, President McCarthy declared the report of the April 14, 2016
Substandard Living Conditions Special Committee accepted and placed on file.
There being no objection, President McCarthy suspended the rules to allow Alderman Dowd to give an
Oral Report of the Public Hearing and Budget Review Committee meeting held April 25, 2016
Alderman Dowd
Last night, Treasurer Fredette was here. In 2006, the city sold an advanced refunding bond with payments in
the July of every single year. The city is allowed to advance the refunding of these bonds which were originally
bonds sold in 2006 at a mixture of old school bonds that were originally started in 1999 to 2002. The city is
allowed to call advanced refunding of these bonds 90 days prior to the 10" anniversary of the bond, which falls
on July 15, 2016. That was why the expediency of trying to move this forward, so Treasurer Fredette could act
on this. The bond sold in 2006 had rates of approximately 4%. The current refunding bond will have rates in
the 1.5% to 2.0% range over the remaining life of the bond, which is six years. The interest rate savings will be
approximately $1.5 million over the next 6 fiscal years. Thank you.
There being no objection, President McCarthy declared the oral report of the April 25, 2016 Budget Review
Committee public hearing and regular meeting accepted and placed on file.
WRITTEN REPORTS FROM LIAISONS — None
CONFIRMATION OF MAYOR'S APPOINTMENTS — None
UNFINISHED BUSINESS - RESOLUTIONS
MOTION BY ALDERMAN SIEGEL TO TAKE FROM THE TABLE R-16-015
MOTION CARRIED
