On May 5 from 10 a.m. to 7 p.m. Village voters will make a very important financial decision for all Hyde Park Electric customers. Regrettably, we do not have adequate time to properly inform everyone, yet the Village Board of Trustees felt a fiduciary responsibility to make every effort to secure this advantageous financing for Hyde Park Electric customers.
In a perfect scenario, many public hearing would have been held and every detail professionally presented. The fact is that we had little time and much to do. We first learned about the CREB financing on March 30 and we are in a tight race to meet the June 3 deadline for application. Hyde Park will be in a national competition for approximately $500 million dollars in zero interest, 30 year bonds, specifically designed by the Treasury Department for renewable investments to municipals. Cooperatives have a separate fund and the total of all funding groups exceeds $1.5 billion. Once these monies are expended, it is anyone's guess when zero interest bonds will be available again. These funds are left over from stimulus funds following 2008.
The bond vote is just the beginning. Continuing public meetings will be held and Special Village meetings too.
Right now, we have an exceptional financing opportunity. Please contact me if you would like more information and I will do my best to address your questions within this short window. Your vote and assistance could make the difference.
Many Thanks!
Carol
Information Resources:
http://legislature.vermont.gov/bill/status/2016/H.40
https://www.facebook.com/villageofhydepark
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