Public Bond Hearing for Bradford 2017 Minutes
February 16, 2017
Motion made to open hearing. Motion carried 3-0.
Present: John Pfeifle, Chairman; Sonny Harris, Selectman; Jim Bibbo, Selectman
Bond Hearing opened at 7:10.
Article 4: Town Hall Restoration Bond
To see if the Town will vote to raise and appropriate the sum of Eight Hundred Sixty One Thousand Dollars ($861,000.00) (gross budget) for the renovation and restoration of the Historic Town Hall at Map 16 Lot 92. The project will provide a full basement and a completely operational first floor for town offices and meeting rooms. Further to authorize the issuance of not more than Six Hundred and Seventy Five Thousand Dollars ($675,000.00) of bonds or notes in accordance with the provisions of the Municipal Finance Act (RSA Chapter 33). Further to authorize the Selectmen to issue and negotiate such bonds or notes, to determine the rate of interest thereon, the term and other details. The balance of One Hundred Eighty Six Thousand Dollars ($186,000.00) has been raised from donations and grants. The following funds are currently on hand to offset this balance:
- $105,000.00 LCHIP Grant
- $ 81,000.00 Cash and In-Kind donations
The Selectmen recommend. Budget Committee recommends. This article requires a paper ballot and two-thirds vote. Passage of this article will have no tax impact in 2017.
Marlene Freyler asked if there are current plans for the Town Hall available. Harry Wright indicated that the current plans will be available at the Candidate Forum on March 11th.
Michele Halsted handed out information regarding two different financing options. One was through Lake Sunapee Bank and the other was through the U.S. Department of Agriculture Rural Development. The Board stated for the record that they would find the best rate for the town.
Beth Downs suggested that the Town Hall Restoration Oversight Committee have specific dollar figures for the impact the bond would have on taxes, perhaps running different scenarios.
There being no further discussion, a motion was made to adjourn bond hearing. Motion carried 3-0.
Bond Hearing adjourned at 7:25pm.
Minutes submitted by Molly Hopkins