HomeMy WebLinkAbout2025-09-18 Select Board Minutes NORTH ANDOVER SELECT BOARD MINUTES SEPTEMBER 18, 2025
Pursuant to Section 20 of Chapter 20 of the Acts of 2021, this meeting of the North Andover Select Board
will be conducted via remote participation. For this meeting, members of the public who wish to watch the
meeting may do so on their televisions by tuning to Comcast Channel 8 or Verizon Channel 26 or online at
www.northandovercam.org. Every effort will be made to ensure that the public can adequately access the
proceedings in real time, via technological means. In the event that we are unable to do so, despite best
efforts, we will post on the Town of North Andover website an audio or video recording, transcript, or other
comprehensive record of proceedings as soon as possible after the meeting.
Call To Order: Chair Janice Phillips called the remote open meeting to order at 2:04PM.
Select Board in Attendance: Chair Janice Phillips, Rosemary Smedile, Laura Bates, Clerk Brian Roache
and David Kres were present
Non-Board Members in Attendance: Town Manager Melissa Murphy-Rodrigues, Deputy Town Manager
Denise Casey and Assistant Town Manager Laurie Burzlaff were present.
APPROVE BOND SALE
Finance Director Dennis Keohane was present. Mr. Keohane discussed the authorization of the sale of the
$6.6 millions to the middle school project. Mr. Keohane stated this went out to bid last week and was
awarded to Roosevelt& Cross, Inc at the price of$6.8 million.
MOTION: Mr. Roache motioned to approve that the sale of the $6,660,000 General Obligation School Bonds
of 2025 of the Town dated September 24, 2025 (the "Bonds') to Roosevelt& Cross, Inc. at the price of
$6,866,235.30 and accrued interest, if any, is hereby approved and confirmed. The Bonds shall be payable
on March 15 of the years and in the principal amounts and bear interest at the respective rates, as follows:
Year Amount Interest Rate Year Amount Interest Rate
2027 $270,000 5.000% 2040 $265,000 4.000
2028 2707000 5.000 2041 265,000 4.000
2029 270,000 5.000 2042 265,000 4.000
2030 270,000 5.000 2043 265,000 4.000
2031 270,000 5.000 2044 265,000 4.000
2032 270,000 5.000 2045 265,000 4.000
2033 270,000 5.000 2046 265,000 4.000
2034 265,000 4.000 2047 265,000 4.000
2035 265,000 4.000 2048 265,000 4.125
2036 265,000 4.000 2049 265,000 4.125
2037 265,000 4.000 2050 265,000 4.125
2038 265,000 4.000 2051 265,000 4.125
2039 265,000 4.000
that in connection with the marketing and sale of the Bonds, the preparation and distribution of a Notice of
Sale and Preliminary Official Statement dated September 3, 2025, as amended September 5, 2025, and a
final Official Statement dated September 10, 2025 (the "Official Statement'), each in such form as may be
approved by the Town Treasurer, be and hereby are ratified, confirmed, approved and adopted, that the
Bonds shall be subject to redemption, at the option of the Town, upon such terms and conditions as are set
forth in the Official Statement, that the Town Treasurer and the Select Board be, and hereby are, authorized
to execute and deliver a continuing disclosure undertaking in compliance with SEC Rule 15c2-12 in such
NORTH ANDOVER SELECT BOARD MINUTES SEPTEMBER 18, 2025
form as may be approved by bond counsel to the Town, which undertaking shall be incorporated by
reference in the Bonds for the benefit of the holders of the Bonds from time to time, that we authorize and
direct the Town Treasurer to establish post issuance federal tax compliance procedures and continuing
disclosure procedures in such forms as the Town Treasurer and bond counsel deem sufficient, or if such
procedures are currently in place, to review and update said procedures, in order to monitor and maintain the
tax-exempt status of the Bonds and to comply with relevant securities laws, and that each member of the
Select Board, the Town Clerk and the Town Treasurer be and hereby are, authorized to take any and all such
actions, and execute and deliver such certificates, receipts or other documents as may be determined by
them, or any of them, to be necessary or convenient to carry into effect the provisions of the foregoing votes.
Ms. Smedile seconded. Motion approved 5-0 by roll call vote:Phillips-yes, Kres-yes, Roache-yes,
Smedile-yes, Bates-yes.
ADJOURNMENT
MOTION: Mr. Roache made a MOTION, seconded by Mr. Kres to adjourn the Select Board meeting at
2:07PM. Motion approved 5-0 by roll call vote:Phillips-yes, Kres-yes, Roache-yes, Smedile-yes,
Bates-yes.
Respectfully submitted,
Nicole Civitarese
Executive Assistant
Brian Roache, Clerk of the Board