Annual report of the Town of Hampton, New Hampshire

TOWN OF HAMPTON, NEW HAMPSHIRE
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1998
Loans Authorized - Unissued
At the annual Town Meeting held on March 14, 1995, Article #13 authorized $4,986,000 for the
purpose of preparing plans and specifications, land acquisitions and/or easements for the closure
of the Town of Hampton Municipal Landfill. Additionally, Article #15 authorized $1 ,402,900 for
the purpose of preparing plans and specifications, land acquisitions and/or easements and for the
construction of sewerage and sewage treatment facilities. These articles authorized the Selectmen
to participate in the State of New Hampshire Revolving Loan Program under RSA 486:14 which
was established for these purposes. The Town has entered into agreements with the State of New
Hampshire for the full amounts authorized.
The Town has recorded loan proceeds of $147,777 in the Municipal Landfill Closure Fund and
$146,492 in the Wastewater Treatment Plant Improvements Fund for the year ended December 31,
1998. This brings the total borrowed to date to $4,472,332 for the Municipal Landfill Closure Fund
and $1,305,470 in the Wastewater Treatment Plant Improvements Fund. Loans authorized -
unissued at December 31, 1998 total $513,668 in the Municipal Landfill Closure Fund and $97,430
in the Wastewater Treatment Plant Improvements Fund. This debt is not recorded by the Town
until all loan drawdowns are completed.
State Aid to Water Pollution Projects
In addition to local revenues, the "Amount to Be Provided For Retirement of General Long-Term
Debt," includes the following amounts to be received from the State of New Hampshire in the form
of State Aid to Water Pollution Projects:
State Aid
Bond Issues Grant Number Amount
$7,800,000 Sewer Construction Bonds C-384 $ 331,328
$800,000 Sewer Bonds C-383 55,124
$1,280,000 Sewer Construction Bonds C-124 124,040
$2,712,489 Sewer Construction Loan C-496 448.780
Total $ 959.272
Under RSA Chapter 486, the Town receives from the State of New Hampshire a percent of the
annual amortization charges on the original costs resulting from the acquisition and construction of
sewage disposal facilities. At December 31, 1998, the Town is due to receive the following annual
amounts to offset debt payments:
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