Town approves $600,000 MWRA loan

Daily Times Chronicle
See the full article. 

​WINCHESTER - Town Treasurer Sheila Tracy requested the Select Board approve a loan to the town from the MWRA Local Water System Assistance Program/Lead Service Line Replacement Program (Phase 3). She said the loan would be used to continue Winchester’s program to remove goosenecks.

It’s an interest free loan in the amount of $600,000 and the town will repay it in 10 installments of $60,000 each, over a 10 year period beginning May 15, 2021.
​
The motion, read by Select Board member Susan Verdicchio said, “voted: that the sale of the $600,000 Water Bond of the town dated June 1, 2020 to Massachusetts Water Resource Authority (the ‘Authority’) is hereby approved and the Town Treasurer or other appropriate town official is authorized to execute on behalf of the town a Loan Agreement and a Financial Assistance Agreement with the Authority with respect to the bond. The bond shall be payable without interest on May 15 of the years and in the principal amounts: $60,000 each year from 2021 through 2030.

See the full article.