Manchester City Council Approves Loan Agreement for Projects

The City of Manchester will be borrowing money to pay for a couple of upcoming projects and replacement items.

The City Council approved entering into a General Obligation Loan Agreement at their meeting Monday night.

The proposed bond will be used to help pay for this year’s Street Improvement Projects in Manchester, including Highway 13 and East Main Street. It will also be used to help with the Stormwater Management and Wetland Restoration project, as well as purchasing a Water Department pickup truck (with a valve turner and utility box) and replacing a salt truck and the Tanglewood lift station.

The loan will not exceed $1,405,000.