Town of Andover Town Report 2026-06-30
Voters Asked to Approve $1M Road Bond
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Description
The FY27 warrant asks voters to authorize up to $1,000,000 in new general obligation bonds to fund completion of key road projects, with an estimated 10-year term at 3.074% interest. Total debt service over the life of the bond is projected at approximately $1.18 million.
Contract Details
Contract Amount
Not to exceed $1,000,000.00
Vendor
MAINE MUNICIPAL BOND ISSUER FOR NEW ROAD BOND
Agency
Town of Andover, ME
Contract Type
FINANCIAL_SERVICES
Document Date
June 6, 2026
Contract Term
Estimated 10 years at 3.074%
Renewal Info
New bond issuance to be structured by the Treasurer and Select Board upon voter approval, with a fixed 10-year amortization.
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