I. Council Action Requested.
Title
To approve the following proposed referendum question for a Special Town Meeting to be called and held on November 3, 2026, and to have the Council provide a recommendation:
QUESTION:
To see if the Town will vote to, 1.) authorize the issuance of general obligation bonds and/or notes in anticipation thereof in the aggregate principal amount of up to $19,500,000 to finance the costs of rehabilitating the Windham Middle School for use as a community center, including the costs of design, engineering, professional services, site preparation, construction, renovation, operating costs, and other improvements and furnishings as may be required in connection with the project, with the dates, maturities, denominations, interest rate(s), payments, premiums, calls for redemption, with or without premium, form, and other details of such borrowing to be determined by the Town Council; 2.) appropriate the proceeds of said bonds or bond anticipation notes for the foregoing project, plus an amount necessary to refund the interest payments on any bond anticipation notes issued for said purpose and any costs of issuance of the bonds and/or bond anticipation notes; 3.) authorize the Town Council to approve the execution of one or more agreements as may be necessary in connection with the foregoing project and borrowing for said project on terms and conditions as the Town Council deems reasonable and necessary; and 4.) appropriate up to $2,000,000 of the Town's fund balance as the Town Council deems reasonable and necessary to reduce the borrowing amount and directly pay for costs of the project, operating costs of the project, and/or pay for debt service in connection with the project, subject to all applicable regulations related to the use of said funds and the proceeds of the bonds and/or notes issued.
Body
II. Basis for Council Action.
Council approval of this item is required because:
a. pursuant to Article VIII, Section 2 of the ...
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