01/27/2020 BOARD OF SELECTMEN Agenda Packet

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Article Proposed Borrowing Authorization Article for the Sewer Collection System (Estimated at $1,,640,000) To see if the town will appropriate a sum of money by borrowing to complete the Phase 1 design of the of the sewer collection system to be connected to the municipal wastewater treatment plant to be located adjacent to the Town's solid waste transfer station, including all expenses incidental and related thereto, and to authorize the Treasurer, with the approval of the Board of Selectmen, to issue any bonds or notes that may be necessary for that purpose, and to apply the premium received by the Town upon the sale of any bonds or notes thereunder, less any such premium applied to the payment of the costs of issuance of such bond or notes,-to pay project costs and reduce the amount authorized to be borrowed by the amount.of the premium so applied; provided, however, that this appropriation and debt authorization shall be contingent upon passage of a Proposition 2% debt exclusion ballot question under General Laws Chapter.59, § 21C(k), or take any other action relative.thereto. Submitted by the Board of Selectmen Explanation: This article would authorize the borrowing of funds to provide funding to complete the design of Phase 1 of the sewer collection system to be connected to the wastewater treatment facility adjacent to the Town's transfer station: This appropriation and debt authorization shall be' contingent upon passage of a Proposition 2% debt exclusion ballot question under General Laws Chapter 59, § 21C(k). This project is one of'the ,initial steps in implementing the Town's Watershed Nitrogen Management Plan/CLAMP. Pro nosed Ballot Question Debt Exclusion for Design of a Sewer Collection S stem -Shall the Town of Mashpee be allowed to exempt from the provisions of proposition two and one-half, so-called, the amounts required to pay for the bond issued in order to fund the Phase 1 design of a sewer collection system to'be connected to the municipal wastewater treatment plant to be located adjacent to the Town-s solid waste transfer station? Yes No