By K.B. Sherman, Contributing Writer
Grafton – The Grafton Board of Selectmen voted unanimously at its Feb. 2 meeting to issue bonds not to exceed $44.2 million for support of the town’s involvement in the Massachusetts Clean Water Trust (formerly the Water Pollution Abatement Trust). Authority to do so was obtained by a town vote in October, 2014, with a limit on borrowing of $49 million.
State Sen. Michael O. Moore (D-Millbury) had previously announced that the Senate passed legislation 37-0 that combined reform with increased commitments to improve existing partnerships with cities and towns and grow municipal options while boosting best management practices. The bill expanded the spending capacity of the Massachusetts Clean Water Trust. As previously reported, the Massachusetts Clean Water Trust currently holds a “AAA” rating from Moody’s, Fitch and Standard & Poor’s and is the only statewide municipal bond issuer to maintain a “AAA” from all three major rating agencies.
According to the state: The Massachusetts Clean Water Trust (MCWT or the “Trust”) was established in 1989 pursuant to Title VI of the Federal Clean Water Act. It was later amended in 1998 to encompass the provisions of Title XIV of the Federal Safe Drinking Water Act. It seeks to “improve the water quality in the Commonwealth through the provision of low cost capital financing while maintaining stewardship of public funds with prudence, professionalism, and integrity.” The Trust administers loan programs that provide funding to cities, towns, other governmental units, and private entities for the purpose of financing improvements to drinking water and wastewater infrastructure.
Two amendments filed by Moore have reimbursed non-Massachusetts Water Resource Authority (MWRA) communities such as Grafton for sewer collection system rehabilitation. State Sen. Harriette L. Chandler (D-Worcester) co-sponsored the amendment.
The Grafton selectmen’s action on Feb. 2 provides that each note issued will be a single security with the town treasurer authorized to determine details and execute finance agreements with trust. The treasurer and other town officials are authorized to take any actions necessary to complete the program. The board made clear that in this process all meeting agendas were published in accordance with state open meeting requirements and that no prior votes have been changed or revoked. The notes to be issued will now go out for bids.
The board voted to approve issuance and details about the bonds sought regarding the town vote of Oct. 20, 2014 and sign related documents. The motion passed unanimously.
In other business, the board accepted the resignations of Barbara Lapoint from the Council on Aging and Carrie Ann Hogan from the Library Board of trustees. The board also approved the appointments by Town Administrator Timothy McInerney of town police Sergeant Neil Minardi to the rank of provisional lieutenant, and officers James Crosby and Liam O’Rourke to the rank of provisional sergeant. The appointments are provisional as the process of hiring and promoting of police officers is undergoing changes in civil service procedures.