AVON — On Wednesday, selectmen will hold a special town meeting to approve borrowing additional funds for road reconstruction.
The 6 p.m. meeting on June 19 will be at the Avon town office. The extra money is required because costs have increased by approximately $23,000, according to First Selectman Greta Espeaignnette.
“This is an addition to the original $125,000 requested and approved at our March 16 town meeting,” she said.
Voters had authorized adding $125,000 to the outstanding loan of $115,000 for road reconstruction costs.
Spread over 10 years, the annual loan payment will remain the same, Espeaignnette said. At an estimated 3.87 percent interest, the cost over 10 years will be the principal, plus $30,235 in interest.
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