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<br />Select Board <br />Minutes <br />May 18,2026 <br /> <br />It was reported that the Town received eight bids on May 12 for the general obligation bond <br />sale, with rates based on true interest cost. The proceeds will fund a portion of the new <br />police station project at Old Town Circle. <br />Beaton reviewed required bond sale documentation and compliance requirements <br />associated with the issuance. <br />Motion made by Selectman Weeden to approve the bond sale as read into the record <br />by Jennifer Beaton. <br />Motion seconded by Selectman Richardson. <br />Selectman Weeden asked whether there was a Finance Committee recommendation. The <br />Town Manager responded that there was none. The Town Manager also clarified that the <br />Finance Committee typically reviews warrant articles related to borrowing but does not <br />review the bond sale itself. <br /> <br />It was explained that the bond was awarded to the lowest bidder based on a true interest <br />cost of approximately 3.41, noting that the selection is based on true interest cost and may <br />include a premium component. <br />Vote: 5-0 Unanimous <br />Roll Call Vote <br />Selectwoman Wyman-Colombo-yes <br />Selectman Weeden-yes <br />Selectman Cotton-yes <br />Selectwoman Kelley-Wilson-yes <br />Selectman Richardson-yes <br />Review and Approval of Seasonal Population Increase Estimate – Brian Tobin, Town <br />Planner <br />Brian Tobin, Town Planner, presented the Town’s estimated seasonal population figures, <br />reporting an estimated peak population of 36,840 persons and 15,935 year-round <br />residents. <br />6 <br /> <br /> <br />