Article 8

Shall the Town vote to raise and appropriate the sum of $6,653,200 (gross budget) for the following necessary capital improvements: Fire Sub Station ($2,500,000); Municipal Building Expansion/Sherburne Hall ($811,000); Highway Department Garage ($655,000); Parks and Recreation Facility including Lifeguard and Restroom Facilities at Veteran's Park ($1,500,000); Roadway Improvements ($1,000,000); and, Construction Management Services ($187,200)? This Article shall authorize the issuance of not more than $6,653,200 of bonds or notes in accordance with the provisions of the Municipal Finance Act (RSA 33), and to authorize the Board of Selectmen to issue and negotiate such bonds or notes and to determine the rate of interest thereon and to additionally raise and appropriate the sum of $70,000 for the first year's interest and associated costs. (Recommended by Selectmen) (Not Recommended by Budget Committee) (3/5 Ballot Vote Required)

Capital CostProject
 $2,500,000
Fire Sub Station
$811,000
Municipal Building Expansion / Sherburne Hall 
$655,000Highway Department Maintenance Garage
$1,500,000
Park & Recreation New Gym, Lifeguard, Restroom facilities
 $1,000,000
Highway / Road Improvements 
 $187,200
Construction Management Services
$6,663,200
Bond Total
$70,000
First Year / Assoc. Costs / Bonding Fees


Status

  • Originator: Board of Selectmen
  • Board of Selectmen: 4-1-0 (Bergeron - no)
  • Budget Committee: 2-8-0 (Gleason - yes, Doug Viger - yes)
  • Town Meeting: no changes made during the Deliberative session

Voter's Guide Explanation

The purpose of this Bond is to address existing infrastructure needs of the town in an organized, efficient, and financially responsible manner. There is a full data package on this web page that provides complete details and cost support for the planned construction.

The proposed bond is planned for 10 years, which, based upon the latest market conditions, will result in a tax rate impact of $0.29 in the first year and $1.24 or less in succeeding years. Consolidation of the bond addresses immediate infrastructure needs, assures that the town secures the lowest fixed rate for the foreseeable future, and contributes to stabilizing the tax rate. This approach avoids the impact of inflation and escalating fuel and service increases should the infrastructure elements be deferred or segregated for separate implementation.

Backup Data

Notice

Town of Pelham Public Hearing
Issuance of Bonds or Notes


A Public Hearing will be held on Tuesday, January 10, 2006, at 7 pm in Sherburne Hall, Pelham Municipal Complex, 6 Village Green, Pelham, NH, to discuss and receive public comment regarding a proposed borrowing of $6,653,200. The Warrant Article authorizing this borrowing will read:

Shall the Town vote to raise and appropriate the sum of $6,653,200 (gross budget) for the following necessary capital improvements: Fire Sub Station ($2,500,000); Municipal Building Expansion/Sherburne Hall ($811,000); Highway Department Garage ($655,000); Parks and Recreation Facility including Lifeguard and Restroom Facilities at Veteran's Park ($1,500,000); Roadway Improvements ($1,000,000); and, Construction Management Services ($187,200). This Article shall authorize the issuance of not more than $6,653,200 of bonds or notes in accordance with the provisions of the Municipal Finance Act (RSA 33), and to authorize the Board of Selectmen to issue and negotiate such bonds or notes and to determine the rate of interest thereon with a term not to exceed 10 years in duration and to additionally raise and appropriate the sum of $70,000 for the first year's interest and associated costs.

(Recommended by Selectmen) (Not Recommended by Budget Committee) (3/5 Ballot Vote Required)