Town Warrant Article #2 was put in place to help secure a $100,000 grant from the State of NH DES to study the Silver lake Watershed. This article was Recommended by Board of Selectmen 5-0-0 and also Recommended by Budget Committee 8-0-0. Simply put this warrant article will help study and investigate a valuable water resource in our town with no impact to the taxpayer
This $100,000 grant loan has a 100% principal forgiveness (aka Free Money) and only the interest on the loan must be paid. The town of Hollis is acting as a steward of the funds due to the loan requirements, and the SLIA will pay 100% of the interest on the loan – This means ZERO TAX IMPACT to you the taxpayer.
Silver Lake Improvement association asks you to please attend the town meeting and help pass this WARRANT ARTICLE #2 with a YES VOTE!
ARTICLE 2 – Silver Lake Phosphorus Reduction Study/Design
Shall the Town of Hollis vote to raise and appropriate $100,000 (One Hundred Thousand Dollars) to hire a Certified Lake Management / Engineering Firm to study conditions and provide design solutions to reduce external and internal phosphorus loading in Silver Lake — to prevent future cyanobacteria blooms in the lake? And to authorize the issuance of not more than $100,000 of bonds or notes in compliance with the Municipal Finance Act, RSA 33:1 et seq., as amended, with the amount of such bonds or notes to be reduced by any grant funding received for the project, and to comply with all laws applicable to said project; to authorize the Select Board to issue, negotiate, sell, and deliver said bonds and notes and to determine the rate of interest thereon and the maturity and other terms thereof; and to authorize the Select Board to take any other action or to pass any other vote relative thereto. It is anticipated that there will be $100,000 in principal loan forgiveness, under the New Hampshire Department of Environmental Services Clean Water State Revolving Fund (NH CWSRF). The interest on this loan will be paid in full by a donation from the Silver Lake Improvement Association Water Quality Fund. Fiscal Impact Note: The Tax Impact associated with this will be $0.00 per $1,000 valuation. Any and all interest accrued prior to loan forgiveness and administrative costs has been negotiated to be paid by the Silver Lake Improvement Association and held in an escrow account. Estimated Tax Impact $0.00 per Thousand. (3/5 Ballot Vote Required.)
Recommended by Board of Selectmen 5-0-0 Recommended by Budget Committee 8-0-0