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HomeMy WebLinkAbout2020-03-03 Finance Committee Minutes FINANCE COMMITTEE MINUTES March 3, 2020 @ 5:15 pm Councilors in Attendance: Hawes, Schaefer, Nichols, Fournier Staff in Attendance: Laurie, Conlow, Cromwell 1. Resolution of the Finance Committee Approving the Details of the 2020 General Obligation Bond Issue Staff reviewed the results of the City’s general obligation bonds sale. There were 7 bidders for the City’s bonds. The results were an overall true interest cost of just under 1.4%. Motion made and seconded to approve the details of the 2020 general obligation bond sale, motion passed unanimously. 2. Resolution of the Finance Committee Approving the Details of the 2020 SRF General Obligation Bond Issue Staff reviewed the details of the General Obligation Bond through the Maine Municipal Bond Bank’s SRF program. The program provides low rate financing for projects that met the requirements of the Clean Water Act. Motion made and seconded to approve the details of the 2020 SRF general obligation bond issue, motion passed unanimously. Meeting adjourned at 5:20 pm