RESOLUTION:
PURPOSE:
ENDORSER(S):
COMMITTEE
ASSIGNMENT:
FISCAL NOTE:
LEGISLATIVE YEAR 2020
R-20-040
Authorizing the Mayor and City Treasurer to borrow from the
New Hampshire Department of Environmental Services State
Revolving Loan Fund an additional amount not to exceed two
million five hundred thousand dollars ($2,500,000) for pump
station upgrades
Mayor Jim Donchess
Budget Review Committee
Board of Public Works
RESOLUTION R-20-046
The Treasurer for the City of Nashua is hereby authorized to furnish such information
and take such other action as may be necessary to enable the City of Nashua to qualify for the
loan.
R-20-040
RESOLUTION
AUTHORIZING THE MAYOR AND CITY TREASURER TO BORROW FROM THE
NEW HAMPSHIRE DEPARTMENT OF ENVIRONMENTAL SERVICES STATE
REVOLVING LOAN FUND AN ADDITIONAL AMOUNT NOT TO EXCEED TWO
MILLION FIVE HUNDRED THOUSAND DOLLARS (32,500,000) FOR PUMP
STATION UPGRADES
CITY OF NASHUA
In the Year Two Thousand and Twenty
LEGISLATIVE YEAR 2620
RESOLUTION: R-20-039
PURPOSE: Authorizing Pennichuck Corporation and Pennichuck Water
Works, Inc. to issue taxable bonds of up to $75,000,000
ENDORSERS: Alderman-at-Large Lori Wilshire
COMMITTEE
ASSIGNMENT: Budget Review Committee
FISCAL NOTE: None.
ANALYSIS
This resolution approves the proposal by Pennichuck Corporation and one of their regulated
public water subsidiaries to issue up to $75,000,000 in taxable bonds as described in the
resolution.
R-20-039
RESOLUTION
AUTHORIZING PENNICHUCK CORPORATION AND PENNICHUCK WATER
WORKS, INC. TO ISSUE TAXABLE BONDS OF UP TO $75,000,000
CITY OF NASHUA
In the Year Two Thousand and Twenty
WHEREAS, the City of Nashua is the sole shareholder of Pennichuck Corporation
(“Pennichuck”) and each of its subsidiaries;
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RESPONSE:
This letter correctly sets forth our understanding.
Acknowledged and agreed on behalf of the City of Nashua, New Hampshire by:
Name:
Title:
Date:
10
b. Significant difficulties, if any, encountered during the audit.
c, Uncorrected misstatements, other than those we believe are trivial, if any.
d. Disagreements with management, if any.
e. Other findings or issues, if any, arising from the audit that are, in our professional judgment,
significant and relevant to those charged with governance regarding their oversight of the
financial reporting process.
f. Material, corrected misstatements that were brought to the attention of management as
a result of our audit procedures.
(d) evaluating and accepting responsibility for the results of the services performed: and
(e) establishing and maintaining internal controls, including monitoring ongoing activities.
Group Audit Considerations
Provisions of Engagement Administration, Timing, and Fees
During the course of the engagement, we may communicate with you or your personnel via fax
or e-mail, and you should be aware that communication in those mediums contains a risk of
misdirected or intercepted communications.
m. For identifying and ensuring that the City complies with laws, regulations, grants, and
contracts applicable to its activities and its federal award programs and implementing
systems designed to achieve compliance with applicable laws, regulations, grants, and con-
tracts applicable to activities and its federal award programs.
