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Record of Proceedings

Special Board of Aldermen Meeting - August 11, 2026: Approval of Capital Expenditures and Debt Service Plan

Board of Aldermen Meetings — Tuesday, August 11, 2026
BodyNashua, New Hampshire
SessionBoard of Aldermen Meetings
DateTuesday, August 11, 2026
StatusNEW · FILED
Video Record
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0:12

Now there was never an expectation.

0:17

What's that?

0:21

No.

0:21

I got them from this is my original.

0:41

I think it's not going to complain about it.

0:46

Do we have a script for today?

0:55

I'll just look at things.

0:57

Thank you.

1:00

How are you doing?

1:04

All right, there.

1:05

Oh, I found it.

1:09

I know.

1:10

I thought I had looked at everything, but I got a comment on the committee.

1:13

I'm going to call a special meeting of the Board of Alderman to order on Tuesday, August 11th, 2026 at 7.01 p.m.

1:20

in the Aldermanic Chamber.

1:22

Which has been duly noticed in two places, including the city's website.

1:27

In accordance with the requirements of RSA 91A.

1:30

The prayer will be offered this evening by City Clerk Dan Healy and Alderman Smith will lead us in the pledge to the flag.

1:38

Almighty God, we have the high honor and the serious duty to manage the affairs of our beloved city.

1:45

Fill us, oh God, with a spirit of unity and understanding, which enables us to face our multiple problems with a serene mind with justice and charity for all, so that any and all decisions made by us will always be for the betterment and greater happiness of all our fellow citizens.

2:02

So help us God.

2:03

Amen.

2:06

I pledge allegiance to the flag of the United States of America and the Republic of which it stands.

2:28

Let's start the meeting by taking a roll call attendance, please.

2:32

Alderman Clemens.

2:35

Alderman Clee.

2:36

Here.

2:38

Aldman Ravan.

2:39

Here.

2:47

Alderman O'Brien.

2:49

Present.

2:55

President.

2:57

Alderman Sullivan.

2:58

Here.

3:00

Alderman Senate.

3:02

Here.

3:04

Alderman Johnson.

3:05

Present.

3:07

Alderwoman Kelly.

3:09

Here.

3:10

Alderman Morgan.

3:12

Here.

3:14

Alderman Lopez.

3:16

Here.

3:17

Aldman Wilshire.

3:19

Here.

3:19

Thirteen present, two absent.

3:22

We have a quantum.

3:23

Thank you.

3:24

Also joining us this evening is Corporation Council Steve Bolton.

3:28

Communications.

3:29

Communication has been received from President Laurie Wilshire, Board of Alderman regarding calling a special board of Alderman meeting on Tuesday, August 11th, 2026 at 7 p.m.

3:40

There being no objection, I'll accept the communication and place it on file.

3:43

Discussions, annual presentations.

3:45

We have an updated plan presentation by ad hoc joint committee on capital expenditures and debt service.

3:52

And I'm going to recognize Administrative Services Director Tim Cummings.

4:05

And I'm here this evening to just uh provide you all with the update and review of the work that we've done to date through the ad hoc committee, and then essentially ask for your approval uh and and confirmation of this work so we can have some policy guidance.

4:25

Uh the just just to note for the record.

4:29

Um the ad hoc committee got together over the last few months.

4:34

Um we studied the the specific issue on how to develop our debt service plan and and our essentially our capital spending.

Discussion Breakdown — Share of Meeting
Capital Expenditures█████████████████████████████████████████████65%
Debt Service██████████████20%
Procedural██████████15%
Summary of Proceedings

Special Board of Aldermen Meeting - August 11, 2026

The Board of Aldermen held a special meeting on August 11, 2026, at 7:01 p.m. in the Aldermanic Chamber, duly noticed per RSA 91A. Thirteen members were present, two absent. The primary agenda item was a presentation and approval of an updated capital expenditures and debt service plan by the ad hoc joint committee. The meeting adjourned at 7:24 p.m.

Discussion Items

  • Updated Plan Presentation: Administrative Services Director Tim Cummings presented the ad hoc committee's work, which developed over several months. The plan builds on prior guidance: use cash for projects under $1.5 million, limit new debt sales to an average of $25 million per year over five years (plus an inflationary factor), and authorize supplemental spending through surplus as needed. The plan is non-binding and a living document. Cummings noted that the current five-year average debt sale is about $39 million, with a target of $30 million. He requested board approval to proceed with bond resolutions for the September meeting.
  • Q&A and Clarifications:
    • Alderman Tebow asked about the conservatism of the $25 million target. Cummings and CFO John Enright confirmed it is a conservative approach, well below the 10% of operating budget best practice, and consistent with maintaining a positive bond rating.
    • Tebow also asked about future reviews. Cummings suggested the board could revisit the plan annually, though past practice was every two years.
    • Tebow noted that the tax rate impact (e.g., $0.07 per $1,000 assessed value) is minimal compared to other factors. Enright added that the calculation was based on the FY27 budget with no changes for illustration.
    • Alderman Sullivan sought clarification on the spreadsheets: the current debt service includes principal and interest. The "planned bonded debt service" includes authorized (white) and unauthorized but programmed (blue) items, not the unprogrammed green items.
    • Sullivan raised a question about exemption from the tax cap: Cummings clarified that while bond authorizations can be exempted from the cap calculation, the resulting debt service is included in the operating budget and affects the tax rate. Corporation Counsel Steve Bolton added nuance on the cap calculation.
    • Alderman Dow emphasized that approving the plan does not authorize individual bonds; each project will come before the board separately. Alderman Clee added that priorities may shift over time.
    • Alderwoman Kelly supported the plan and requested a spring review.

Key Outcomes

  • Motion to Accept Plan: Alderman Clemens moved to accept the approved plan and recommendations as presented by the ad hoc joint committee on capital expenditures and debt service planning. Alderwoman McKelly abstained. The motion passed on a voice vote (ayes heard, no opposition).
  • Adjournment: Alderman Clemens moved to adjourn, which was approved. The meeting ended at 7:24 p.m.

Meeting Transcript

Now there was never an expectation. What's that? No. I got them from this is my original. I think it's not going to complain about it. Do we have a script for today? I'll just look at things. Thank you. How are you doing? All right, there. Oh, I found it. I know. I thought I had looked at everything, but I got a comment on the committee. I'm going to call a special meeting of the Board of Alderman to order on Tuesday, August 11th, 2026 at 7.01 p.m. in the Aldermanic Chamber. Which has been duly noticed in two places, including the city's website. In accordance with the requirements of RSA 91A. The prayer will be offered this evening by City Clerk Dan Healy and Alderman Smith will lead us in the pledge to the flag. Almighty God, we have the high honor and the serious duty to manage the affairs of our beloved city. Fill us, oh God, with a spirit of unity and understanding, which enables us to face our multiple problems with a serene mind with justice and charity for all, so that any and all decisions made by us will always be for the betterment and greater happiness of all our fellow citizens. So help us God. Amen. I pledge allegiance to the flag of the United States of America and the Republic of which it stands. Let's start the meeting by taking a roll call attendance, please. Alderman Clemens. Alderman Clee. Here. Aldman Ravan. Here. Alderman O'Brien. Present. President. Alderman Sullivan. Here. Alderman Senate. Here. Alderman Johnson. Present. Alderwoman Kelly. Here. Alderman Morgan. Here. Alderman Lopez. Here. Aldman Wilshire. Here. Thirteen present, two absent. We have a quantum. Thank you. Also joining us this evening is Corporation Council Steve Bolton.

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