$5M fire station borrowing plan on hold.Byline: Christine Miller GRAFTON - The Board of Selectmen SELECTMEN. The name of certain officers in several of the United States, who are invested by the statutes of the several states with various powers. delayed action Noun 1. delayed action - a mechanism that automatically delays the release of a camera shutter for a fixed period of time so that the photographer can appear in the picture on bonding the $5 million loan for the new fire station this week, pending more information on the town's debt and bond rating. Treasurer/Collector Karen L. Gauthier updated the board on the bonding issue Tuesday. She said Grafton's current debt will be paid by 2014. However, the town also needs to consider future projects that might be added to the debt. The selectmen must decide whether taxpayers will pay more per year over a shorter term of borrowing or less over a longer term, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Town Manager Natalie T. Lashmit. In the past, Grafton has been successful with five- and 10-year bond issues because of new growth revenue. However, the growth pattern has slowed substantially this year, she said. Ms. Lashmit said in an interview yesterday that the impact on Grafton's tax rate would be a high of 30 cents per $1,000 valuation to a low of 22 cents on a 20-year bond and a high of 23 cents and a low of 14 cents on a 15-year bond. The highest payment is in the first year, and it decreases in following years. Chairman Brook L. Padgett and Selectman se·lect·man n. One of a board of town officers chosen annually in New England communities to manage local affairs. Noun 1. selectman - an elected member of a board of officials who run New England towns Christopher R. LeMay said Tuesday they favor a shorter-term bond issue because much of the current debt will be paid off. But they also said they would like more information on the bond rating before deciding. Ms. Gauthier said bond counsel is recommending a site visit to Grafton by Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. in hopes of improving the town's bond rating of AA-, which has been in place for six or seven years. The town has done a lot of long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. planning and added new infrastructure and new construction, which could improve the rating, she said. The board has until the end of September to decide on bonding terms, she added. NAME: GRAFTON SELECTMEN |
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