Town of Sutton

NOTICE OF SELECTMEN’S PUBLIC INFORMATION SESSION ON PROPOSED WARRANT ARTICLE

7:00 p.m. on Thursday, March 7^th, 2024

Pillsbury Memorial Hall, 93 Main Street, Sutton Mills

 

The Sutton Board of Selectmen will conduct a public information session at the Pillsbury Memorial Hall, 93 Main Street, Sutton Mills, New Hampshire, beginning at 7:00 p.m. on Thursday, March 7^th, 2024.

 

The purpose of the information session is to inform the public on a Warrant Article to see if the town will vote to raise and appropriate the sum of $100,000 (gross budget) by obtaining a New Hampshire Department of Environmental Services Clean Water State Revolving Fund (NHCWSRF) loan for the purpose of hiring a Certified Lake Management/Engineering firm to prepare a watershed-based plan for Kezar Lake, and to authorize the issuance of not more than $100,000 of bonds or notes in accordance with the provisions of the Municipal Finance Act (RSA 33) and to authorize the Select Board to issue and negotiate such bonds or notes and to determine the rate of interest thereon for the sole purpose of obtaining that loan.

 

The plan will address watershed scale stormwater impacts to the lake and prevent future algae blooms. Once the plan is completed, the Town will be eligible for certain grants aimed at reducing threats to the lake’s ecosystem and to remediate identified pollution threats. The bond will be in the form of a loan from the Department of Environmental Services Clean Water State Revolving Fund and the full amount of principal will be entirely forgiven when the plan is completed pursuant to DES requirements. The town will be required to pay interest on the loan amount, however, this article is contingent upon the Kezar Lake Protective Association (KLPA) depositing into escrow an amount sufficient to reimburse the town for all of those interest payments prior to the finalization of the loan agreement; as well as KLPA providing a surety to repay any portion of the principal which is not forgiven, if any.

 

Interested members of the public are encouraged to attend.

 

SUTTON BOARD OF SELECTMEN