As we ready for Town Meeting, the Town will be presenting information every day on different warrant articles.
Article 26: Rescind unused and unneeded borrowing authorizations.
The Town has several bonding authorizations from past years where the full amount authorized at Town Meeting was not necessary. We are rescinding these authorizations to take these bonds off the Town's books.
Think of this like you are pre-approved for a car loan for $25,000, but the car you purchase is only $24,500. You do not want to keep the extra $500 on your credit report when you do not need it and are not using it.