FINANCIAL_SERVICESAPPROVED

Town of Merrimack Agreement New Hampshire Municipal Bond Bank Loan Agreement 2026-07-15

Merrimack Approves $1.43M Bond Bank Loan for Land

$1,425,000Town of MerrimackNEW HAMPSHIRE MUNICIPAL BOND BANKJune 16, 2026

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Description

The Town of Merrimack approved a $1,425,000 loan and bond sale to the New Hampshire Municipal Bond Bank to finance a real estate purchase, with annual principal payments of $285,000 from 2027 to 2031 at an interest cost rate not exceeding 4.25%. The Loan Agreement dated July 15, 2026 also updates payment procedures on existing loans and imposes ongoing financial reporting and tax compliance obligations on the Town.

Contract Details

Contract Amount

$1,425,000

Vendor

NEW HAMPSHIRE MUNICIPAL BOND BANK

Agency

Town of Merrimack, NH

Contract Type

FINANCIAL_SERVICES

Document Date

June 16, 2026

Contract Term

5 year level principal; maturity dates 8/15/2027, 8/15/2028, 8/15/2029, 8/15/2030, 8/15/2031

Renewal Date

2031-08-15

Renewal Info

Single 5‑year bond term with level annual principal payments; no early redemption or resale by either party prior to maturity except under specified conditions. Prior loan agreements between the Town and the Bank are amended only as to payment timing and method, not extended or renewed beyond their existing terms.

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