Wiscasset looks to secure access to $10M toward wastewater plant’s future
For the second time in months, Wiscasset voters stand to face a vote linked to the sewer plant move.
With the Sept. 1 vote planned for the second try passing a school budget, town officials are eying adding asecond question. This one, which awaited selectmen’s nod July 7, seeks permission to borrow up to $10 million in bonds, and only owe on $9 million of it.The funds are eyed toward the wastewater treatment plant’s move. Voters in June nixed their 2024 OK of public works as the new site. So the search is on for another. Meanwhile, officials have said voters’ OK is needed to avoid losing the $10 million in bonds sought toward the move.
Look for results of the selectboard meeting at wiscassetnewspaper.com and in the July 16 print edition.
Town Manager Dennis Simmons explained in his report released ahead of the meeting, “(Bond) payments are not currently scheduled to begin before 2030. We are not required to issue the full amount or spend it down to the full amount. We can reduce the bond amount with other funding. Also, these funds can be structured (to let) us to use them for matching funds for other federal grants or other agencies, providing us with greater leverage."
Simmons said state law requires voter approval “before the Town may issue bonds and execute a loan agreement” with Maine Municipal Bond Bank. MMBB has set a Sept. 30 deadline “for the Town to complete these actions in order to preserve its place in the funding cycle,” Simmons wrote.
He said holding the vote the same time as the school budget one is “both practical and cost-effective.”
Also July 7, the board was set to hear an update on housing and business development from Economic Development Director Aaron Chrostowsky.
The meeting is at 6 p.m. at the town office. Find the zoom link with the agenda at wiscasset.gov or view the meeting live or recorded on the town’s YouTube channel.
