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The Select Board voted 4-0 to approve the sale of $15,242,000 in general obligation bond anticipation notes at 4.00% interest, with a stated premium of $187,476.60. The board also approved related disclosure, tax-compliance, and document-signing procedures.
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The borrowing gives Auburn short-term financing through June 29, 2027. Town Manager Dori Vecchio said a previously identified $3.8 million discrepancy was a bond counsel clerical error, not missing money, an improper appropriation, or a legal problem; the documents were corrected and the borrowing amounts were unchanged.
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