Board of Aldermen 05-04-2020 Page 7
Alderwoman Kelly
Thank you, Madam President. | had a couple of questions. | wanted to know, you mentioned being a debt
only funded corporation a couple of times. Can you just explain what that means?
Larry Goodhue, CEO & CFO Pennichuck Corporation
Board of Aldermen 05-04-2020 Page 6
And it is actually one — if you think about it, our debt is almost like a set of dominoes, should we not have
that line of credit, we now have a problem relative to the other layers of debt including the note payable to
the City of Nashua. So it is a very vital element in this overall process. |’ve said a lot, | will stop talking for
a minute and field any questions.
President Wilshire
Are there any questions from the Board?
Alderman Lopez
| have a question.
President Wilshire
Board of Aldermen 05-04-2020 Page 5
President Wilshire
Very good; | guess we did, thank you Larry.
Larry Goodhue, CEO & CFO Pennichuck Corporation
Board of Aldermen 05-04-2020 Page 4
Larry Goodhue, CEO & CFO Pennichuck Corporation
Thank you, Alderman Wilshire and tell me if you can hear me clearly.
President Wilshire
| can hear you clearly.
Larry Goodhue, CEO & CFO Pennichuck Corporation
Board of Aldermen 05-04-2020 Page 3
Alderman Cleaver
| am present and | am alone in the room, my daughter is in an adjacent room and | am here because of
social distancing under the Governor’s Orders.
Alderman Harriott- Gathright
| am here, and | am alone and | am practicing social distancing.
President Wilshire
| am here, | am alone and | am practicing social distancing and | can hear you. | also heard from Alderman
Board of Aldermen 05-04-2020 Page 2
Alderman Skip Cleaver, Alderman Linda Harriott-Gathright, Alderman Wilshire.
Alderman Dowd was recorded present after roll call; Alderwoman Lu and Alderman Laws were recorded
absent.
Mayor James W. Donchess and Corporation Counsel Steven A. Bolton, and the following from Pennichuck:
Thomas Leonard, Chairman of the Board, Larry Goodhue, Chief Executive Officer, Don Ware, Chief
Operating Officer, George Torres, Corporate Controller were also in attendance.
Susan Lovering, City Clerk
Alderman O’Brien
A special meeting of the Board of Aldermen was held Monday, May 4, 2020, at 7:00 p.m. via
teleconference.
President Lori Wilshire presided; City Clerk Susan K. Lovering recorded.
Prayer was offered by City Clerk Susan K. Lovering; Alderman Richard A. Dowd led in the Pledge to the
Flag.
President Wilshire
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