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The Select Board unanimously approved a $27,410,241 bond anticipation note with a 4% coupon and a $411,975 premium. The Board also approved $359,250 for design and related services for the Carlisle Road and Pollard Inn pump stations, funded by developer contributions.
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The short-term borrowing allows Bedford to fund capital projects now and potentially convert the debt to longer-term bonds when market conditions are more favorable. Sewer infrastructure work at Carlisle Road and the Pollard Inn is expected to take about 18 months, with the pump estimated to last approximately 30 years. The Board also deferred $129,490 in sewer-related fees for the 1 Railroad Avenue mixed-use project, requiring payment before any certificates of occupancy are issued.
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