LEGISLATIVE YEAR 2020
RESOLUTION: R-20-079
PURPOSE: Authorizing Pennichuck Corporation and Pennichuck Water
Works, Inc. to issue bonds and renew its fixed asset line of
credit with TD Bank, N.A.
ENDORSERS: Alderman-at-Large Lori Wilshire
COMMITTEE
ASSIGNMENT:
FISCAL NOTE: None.
ANALYSIS
This resolution approves the proposal by Pennichuck Corporation and one of their regulated
public water subsidiaries to issue bonds and renew a fixed asset letter of credit as described in the
resolution.
Pennichuck has separately provided additional information on the proposal to the Board of
Aldermen.
Article [IX (3) of Pennichuck Corporation’s Articles of Incorporation and Article V §2 of the
Pennichuck Corporation’s by-laws requires City approval for the borrowing.
Approved as to form: Office of Corporation Counsel
By:
Date:
