12/19/2022 SELECT BOARD Minutes - Laserfiche WebLink

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VA Mashpee Select Board Minutes December 19, 2022 ........_.........._..ww.___.._ww.____....._l l _._ . _ _ ... P I w .� p .. . _...._._.. Station Intermunici a1 Discussion and A royal of Amendment.,to U 1er Ca °fie Re tonal„Transfer _,__w._wwwwwww.wwwww Agreement IMAMfor the U der CaFewReional TransfermStationtCTRS_,(continued) DPW Director Catherine Laurent: M Motion made by Selectman Wyman -Colombo to further, move that the Board vote pursuant to Article XIV of the amended Intermunicipal Agreement among the Towns of Falmouth, Sandwich and Mashpee to extend the term of said Intermunicipal Agreement to June 30, 2026 upon the mutual agreement of said Towns. Motion seconded by Selectman O'Hara. VOTE: Unanimous. 3-0. Roll Call Vote: Selectman Cotton, yes Selectman O'Hara, yes Selectman Wyman -Colombo, yes Opposed, none Discussion and Approval of Short_Term FinancmLYAgr� eement for xthe w Wastewater Project: Treasurer/Tax,Collector QWgA1q en: Craig Mayen, Treasurer/Tax Collector was in attendance to recommend the Select Board approve a short term and long term financing agreement at the rate of 2.4% for the financing of the $54 million wastewater project. There is concern as the State Revolving Fund (SRF) Agreement was approved at an interest rate of 0% over a term of 30 years. The Town of Mashpee is eligible for 0% short and long term financing dependent upon qualification from the MassDEP. It was disclosed the MassDEP has received the required documentation, however the 0% interest rate has not been formally approved in writing. There has been verbal approval of the 0% interest rate for both long and short term financing that it would be approved. The Towns of Orleans and Truro had a similar situation. Both towns signed for short term and long term financing at 2.4%, and the 0% interest was approved thereafter. Mr. Mayen indicated the project has begun, and there is apprehension with the looming deadline. The document when executed may take approximately two months for the revenue to flow at the 0% interest rate. It was agreed this matter would be deferred to a full quorum of the Select Board on January 9, 2021