Revaluation public hearing scheduled

NASHUA – The city is looking to issue $1.3 million in bonds for property revaluation services.

A public hearing has been set regarding the matter, and is set for 7 p.m. Monday in the Aldermanic Chamber of City Hall, 229 Main St.

Resolution 19-159 aims to authorize officials to issue bonds not to exceed $1.3 million for these services, but requires a vote for passage. If passed, the bond would be sold in fiscal year 2021.

The bond will be for a five-year term, and the interest rate will be approximately 3%. Including interest, the bond over the five years will be $1,417,000. Payments are planned to begin in fiscal year 2022, with an initial payment of $299,000. The average annual payment thereafter will be approximately $283,400.