Shrewsbury Selectboard Meeting Transcript May 2026
Shrewsbury OKs $500K Line of Credit with Bank
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Description
Shrewsbury Selectboard approved a $500,000 line of credit with Community Bank at a 4.75% interest rate to cover municipal bills before year-end tax revenues arrive. The facility provides short-term cash flow flexibility if construction and paving projects proceed as planned.
Contract Details
Contract Amount
$500,000
Vendor
COMMUNITY BANK
Agency
Town of Shrewsbury, VT
Contract Type
FINANCIAL_SERVICES
Document Date
May 6, 2026
Renewal Info
One-time line of credit facility; specific maturity date and renewal options were not discussed in the meeting.
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