Meetings / Jan 15, 2025 / Item 6

Item 6

approved

Jan 15, 2025

Description

Authorize a public hearing pursuant to RSA 162-I:9 with regard to the recommendation of the Business Finance Authority of the State of New Hampshire (the “Authority”) to authorize the issuance of an up to $50,000,000 taxable loan comprising a loan of certain funds of the Authority in the amount of up to $10,000,000 and two revenue bonds aggregating up to $40,000,000 to be issued by the Authority (“Series A Bond” and “Series B Bond,” and together, the “Bonds”) and to award a guarantee of the State of New Hampshire of the payment of the Series B Bond in the principal amount of up to $31,500,000. The Series A Bond will be purchased by Claremont Savings Bank and the Series B Bond will be purchased by Bank of America, N.A., each for the benefit of Whelen Engineering Company, Inc. (the “Borrower”) (or an affiliate thereof) to finance the acquisition and improvements of an approximately 22-acre parcel of land improved by a building structure of approximately 98,000 square feet and related appurtenances located in the Town of Charlestown, New Hampshire, which will be owned by the Authority and sublet by the Borrower to its affiliate, Greensource Fabrication LLC for the manufacturing of printed circuit boards for the defense and aerospace industries and for infrastructure projects.

Amount
$50.0M
$50,000,000, $10,000,000, $40,000,000, $31,500,000
Vote Record approved
Motion by Liot Hill, seconded by Stevens
Joseph Kenney (R) yes
Karen Liot Hill (D) yes
Janet Stevens (R) yes
John Stephen (R) yes
Dave Wheeler (R) no
Dissenting: Wheeler

Documents (1)

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