Manchester OKs 1st Reading of Bond Restructuring Ordinance
July 28, 2016 at 4:25 p.m.
By Ben Quiggle-
The purpose of the ordinance is to sell and lower interest rates on a set of bonds that are more than 10 years old. It would also allow the town to restructure the bond terms as a measure to ensure future payments are met.
The council also heard of plans to revise the Flood Plain Ordinance in order to prepare for a new set of maps that are to be coming Sept. 13. These maps are going to be digital and include more accurate flood plain measurements for insurance purposes.
Carrie Mugford, town clerk, also informed council members of a new Cumulative Capital Fund plan which would allow North Manchester to start a new cumulative fund. The new fund would raise the amount of taxes that would be levied, collecting more money for projects in the future. This fund would be in place to help support taxpayer-funded projects for both the Parks and Police departments.
In other business the council approved a new position that would combine building inspector and code officer duties. This new position would be responsible for carrying out building inspections while also maintaining ordinance and code enforcement for the town.
And the downtown project is also close to completion, according to Dan Hannaford, town manager. He said the project may be done for the most part next week, and that trees will be put in place Monday. A ribbon cutting ceremony is planned during Fun Fest.
Due to the July 4 holiday the next North Manchester Town Council meeting will be July 10 at 7 p.m.
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The purpose of the ordinance is to sell and lower interest rates on a set of bonds that are more than 10 years old. It would also allow the town to restructure the bond terms as a measure to ensure future payments are met.
The council also heard of plans to revise the Flood Plain Ordinance in order to prepare for a new set of maps that are to be coming Sept. 13. These maps are going to be digital and include more accurate flood plain measurements for insurance purposes.
Carrie Mugford, town clerk, also informed council members of a new Cumulative Capital Fund plan which would allow North Manchester to start a new cumulative fund. The new fund would raise the amount of taxes that would be levied, collecting more money for projects in the future. This fund would be in place to help support taxpayer-funded projects for both the Parks and Police departments.
In other business the council approved a new position that would combine building inspector and code officer duties. This new position would be responsible for carrying out building inspections while also maintaining ordinance and code enforcement for the town.
And the downtown project is also close to completion, according to Dan Hannaford, town manager. He said the project may be done for the most part next week, and that trees will be put in place Monday. A ribbon cutting ceremony is planned during Fun Fest.
Due to the July 4 holiday the next North Manchester Town Council meeting will be July 10 at 7 p.m.
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