NEW VINEYARD – Selectmen will hold a special town meeting on Saturday to reconsider a $222,000 bond to rebuild another section of Barker Road. Voters will also be asked to transfer $9,500 from surplus to put a metal roof on the town office/library building.
The town meeting is scheduled for 9 a.m., Sept. 27, at Smith Hall.
Voters had authorized selectmen to take out a bond from the Maine Municipal Bond Bank in March, but a required financial statement on the town was not included in the warrant, selectman board Chairwoman Fay Adams said.
Voters approved making the last payment on a firetruck at the annual town meeting and after that the town didn’t have any indebtedness, she said. But regardless of whether the town has indebtedness or not the financial statement is required, she said. The bond was ready to be issued when the glitch was discovered, Adams said.
The $222,000 bond is for 10 years and is estimated to cost $61,050 in interest for a combined total of $283,050, Adams said.
Voters had also approved using money from a road reserve and transferred an additional $50,000 from surplus to use on the road project, she said. That money has already been spent on the project, Adams said.
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