PRESENT: Chairman Paul Fraser, Jeff Shackett, Rick Alpers, Joe Denning, Don Milbrand; Town Manager Paul Weston; State Representative Burton Williams, and Project Engineer Kevin Olson from Wright-Pierce Engineers; Librarian Deborah Gilbert and the Library Trustees.
At 6:00 PM Chairman Paul Fraser called the meeting to order.
PUBLIC HEARINGS (On issuance on bonds, as required by the Municipal Finance Act (RSA 33)
(2/3 ballot vote required to pass)
Note: The Selectmen expect to offer a motion of the floor of the March Town Meeting to continue the meeting on this article only to Saturday, May 1, which will allow time to learn of the availability of Federal funds for this project.
Town Manager Paul Weston, Burton William (Chairman of the Water Quality Committee), and Project Engineer Kevin Olson each presented various aspects of the proposed project to those present. Weston specifically spoke on the issuance of up to $7 million of bonds, financed through US Department of Agriculture’s Rural Development Agency, at less than 4% interest, which will be paid back by the over 1000 new wastewater customers to be served by the extension of lines to the foot of Newfound Lake. None of the expenses of the project at this time is expected to borne by property tax payers of Bristol.
The public hearing was closed by the Chairman after an extensive question and answer period.
Chairman Fraser continued the meeting by opening up a second public hearing on the issuance of bonds for the Library Project by reading the following article:
Manager Weston, Librarian Deborah Gilbert, and the Library Trustees explained the proposal to renovate the existing Minot-Sleeper Memorial Library and construct an addition onto the building. Trustee George Corrette II explained at the present time it is proposed the project would be financed by the issuance of up to $1,740,897 of bonds over a ten year period at an interest rate of 4%. Total interest at this rate would be $385,878, and a total repayment cost of $2,126,775, and the impact per thousand on the tax rate would vary between 44 cents and 31 cents over the life of the bond. A lengthy question and answer period was held and then the Chairman closed this second public hearing. Everyone present was encouraged to attend the Annual Town Meeting to vote on these two important projects on Saturday, March 15 at the Newfound High School Auditorium beginning at 9 AM.
Town Manager Weston explained that prior to this evening’s Selectmen’s meeting there had been extensive discussion between the petitioners, the NH Attorney General’s Office, and Town Attorney Bernie Waugh concerning the wording on the following article:
Article 2: (by petition)
Upon motion of Mr. Shackett, seconded by Mr. Milbrand, and a 5 – 0 vote in favor, the Board of Selectmen voted to place this petitioned article on the warrant exactly as submitted by the petitioners. Therefore the secret ballot to be voted on will be as it appears above.
Manager Weston explained issuance of bonds for the Water Quality Project and the Minot-Sleeper Library Project if passed by the voters will be done under the supervision and advice of an attorney that specializes in public debt issuance.
Upon motion of Mr. Shackett, seconded by Mr. Milbrand, and a 5 – 0 vote in favor, the Board voted to engage the services of Attorney David Barnes of the law firm of Devine Millimet in Manchester, with the cost not to exceed $5,000 for each bond issuance. (See attached Engagement Letter).
The Selectmen reviewed several items, as follows:
Upon a roll call vote with all five Selectmen voting in favor, the Board of Selectmen went into non-public session per RSA 91-A:3 (d) to discuss the lease of land for cell tower purposes.
R. Paul Weston, Town Manager