Select Board awards $3.1 million bond sale, advances debt refinancing

WAYLAND -- February 1, 2016, Wayland Select Board awards $3.1M bond sale and greenlights refinancing of four older issues. The board on Feb. 1 unanimously accepted a bid from Robert W. Baird at a 2.13699 percent true interest cost with a $113,009 premium, and authorized Treasurer Zoe Pierce to refund bonds from 2003, 2005, 2006 and 2007, with projected savings exceeding $750,000 over their life. Town Administrator Nan Balmer presented a revised FY17 IT budget of $917,446, a $595,414 jump driven by a new IT director, a business systems analyst, $90,000 in hardware replacement and $55,500 in managed services after the January 2015 cyberattack. The board also recommended Article L rescinding roughly $4 million in authorized but unissued debt and four CPA articles totaling more than $300,000, and appointed MIT engineer Jonathan Ward as its WayCAM representative through June 30, 2018.