Shall the Town of Hampton vote to raise and appropriate the sum of $30,000 to assist the Department of Public Works in the continued advancement for the Town’s Asset Management program for Wastewater Assets. Said appropriation to be offset by $30,000 in principal loan forgiveness under the New Hampshire Department of Environmental Services Clean Water State Revolving Fund (SRF); and To authorize the Board of Selectmen to apply for, contract for, accept and expend any Federal, State or other available funds towards the project in accordance with the terms and conditions under which they are received and to borrow in anticipation of the receipt of such and or the issuance of such bonds or notes as provided in the Municipal Finance Act (RSA 33); and To authorize participation in the State Revolving Fund (SRF) (RSA 486:14) established for the purpose, and to authorize the Board of Selectmen to accept and expend such monies as they become available from the Federal and State Governments. This shall be a non-lapsing appropriation per RSA 32:7, VI and shall not lapse until the project is completed or by March 31, 2022, whichever occurs sooner? (3/5ths vote required)
What it means: The Town has already begun a program of electronically cataloging major assets and maintaining key documents and notes relevant to the major assets. Article 13 expands this program to include Wastewater Treatment assets. The $30,000 will be offset by a loan forgiveness program.
Those in favor say: This continues work already begun by the Department of Public Works, and helps to protect the Town’s investments.
Those opposed say: No one spoke against this Article at Deliberative Session.
Fiscal impact: There is no tax impact, because the NH State Revolving Fund will provide 100% principal loan forgiveness.