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The Finance Committee kept its recommendation against Article 7, which would authorize $8.615 million in borrowing for initial construction of a town-wide fiber network. The committee’s original recommendation was 6-1, and a later motion to leave that recommendation unchanged passed 4-2.
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The proposed borrowing would be repaid through taxes if voters approved a debt exclusion, with an estimated average household cost of about $2,100 over 20 years, or $9 per month. The committee cited concerns about taxpayer risk, the length of the debt, how subscriber rates would be set, and the lack of a fully vetted financial model. The committee said it was not opposed to the fiber project moving forward in the future but did not recommend this funding article.
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