Agenda

-2-

Shareholder Approval of Borrowings Required. Under Article [IX of Pennichuck’s Articles of
Incorporation, the City, acting in its capacity as Pennichuck’s sole shareholder, must approve:

“(3) any action to (A) create, incur or assume any indebtedness for borrowed
money or guarantee any such indebtedness of any person, (B) issue or sell
any debt securities or warrants or other rights to acquire any debt securities
of the [Pennichuck] Corporation or any of its Subsidiaries, or (C) guarantee
any debt securities of any person.”

Na

PENNICHUCK 25 MANCHESTER STREET
PO BOX 1947

MERRIMACK, NH 03054-1947

(603) 882-5191
FAX (603) 913-2305

WWW. PENNICHUCK.COM

VIA HAND DELIVERY

February 2, 2016

Mr. Stephen Bennett
Corporation Counsel
City of Nashua

229 Main Street
Nashua, NH 03060

Re: Pennichuck East Utility, Inc. — Request for Approva! of Loan with CoBank, ACB

Dear Attorney Bennett:

CHARGE RATES
For Drinking Water State
Revolving Fund (DWSRF) Loans

Term of Loan ee
5 Years 0.77%
10 Years 1.54%
15 Years 2.31%
20 Years 2.464%
30 Years* 2.464%

“Available to disadvantaged communities only

11-Bond GO Index for December 10, 2015 Is 3.08

Source: NH Department of Environmental Services, December 2015

-4.

FURTHER RESOLVED, that the City hereby approves the guaranty by Pennichuck
Corporation of the payment by each of Pennichuck Water Works, Inc., Pennichuck East
Utility, Inc., and Pittsfield Aqueduct Company, Inc., of each of the loans authorized in
the three prior resolutions; and

-3-

will be unsecured. The corporate parent, Pennichuck, will provide an unsecured corporate
guaranty of the repayment of the loans in accordance with the terms of a Guaranty Agreement.

Approval by Pennichuck, PWW, PEU and PAC. The loans to finance the projects listed

above and the guaranty of the loans have been approved by the respective Board of Directors of
Pennichuck, PWW, PEU and PAC.

-2-

Shareholder Approval of Borrowings Required. Under Article IX of Pennichuck’s Articles of
Incorporation, the City, acting in its capacity as Pennichuck’s sole shareholder, must approve:

“(3) any action to (A) create, incur or assume any indebtedness for borrowed
money or guarantee any such indebtedness of any person, (B) issue or sell
any debt securities or warrants or other rights to acquire any debt securities
of the [Pennichuck] Corporation or any of its Subsidiaries, or (C) guarantee
any debt securities of any person.”

ay
‘& PENNICHUCK 25 MANCHESTER STREET
Be PO BOX 1947

MERRIMACK, NH 03054-1947

@ (603) 882-5197

FAX [603} 913-2305

www. PENNICHUCK.COM

VIA HAND DELIVERY

February 2, 2016

Mr. Stephen Bennett
Corporation Counsel
City of Nashua

229 Main Street
Nashua, NH 03060

Re: — Pennichuck Subsidiaries — Request for Approval of Loans from the New

Hampshire Drinking Water Revolving Loan Fund Program

OQ Dear Attorney Bennett:

* Downtown Public Art - Phase 2 -- $20,000: This project would
include seasonal public art installations in Downtown Nashua
for an additional year.

ea) THE CITY OF NASHUA recs

Downtown Tapbrovement Committee

A as —

February 2, 2016

Brian McCarthy, President
Board of Aldermen

229 Main Street

Nashua, NH 03061-2019

Dear Alderman McCarthy,

AMENDED
R-16-004

RESOLUTION

RELATIVE TO THE TRANSFER OF $9,282 FROM ACCOUNT #107-51
“CITY CLERK — SALARIES & WAGES” INTO NEW ACCOUNT #107-71 “CITY
CLERK — EQUIPMENT” FOR THE PURCHASE OF A COLOR LASER PRINTER

CITY OF NASHUA

In the Year Two Thousand and Sixteen