Auburn Development News

Select Board Approves $15 Million Bond Anticipation Note Sale After Typo Correction

The Select Board voted to approve the sale of general obligation bond anticipation notes. This action addresses a scrivener's error made by the bond council where a typo indicated $3.8 million instead of the intended $15 million. The votes taken tonight are consistent with those planned for Monday night, with no missing funds or misappropriation. The board authorized the preparation and distribution of sale notices and official statements, the execution of a significant events disclosure undertaking, the establishment of post-issuance federal tax compliance and continuing disclosure procedures, and the execution of documents in counterparts with electronic signatures.