Wayland Select Board splits $7 million borrowing into two bond issues

WAYLAND -- March 6, 2017, Wayland Select Board splits $7 million borrowing, swears in new officer. The board voted Monday to issue $6.61 million in general-fund and enterprise bonds on March 20 and to delay a roughly $400,000 Mainstone Farm issuance until as late as May, with the town's financial advisor citing expected interest-rate increases and the town's "conservative nature." Members approved 15-year useful-life terms for a new fire truck and swap loader and an eight-year term for a light truck, but trimmed the street sweeper to 10 years after one selectman said he had "never seen one last 15 years." Officer Kenneth E. Davis II, a five-year Army intelligence veteran with tours in Afghanistan and Iraq and the Wayland department's last civil service appointment, was sworn in by Town Clerk Beth Klein. Town Administrator Nan Balmer also said she would seek a $35,000 reserve fund transfer for River's Edge legal costs after the Finance Committee declined to hear it last week.