On November 10, the town received the proceeds from issuing a state house note to finance the construction of the distribution network. If the town achieves a sufficient “take-rate”, above 70%, Charlemont expects to be able to pay for all debt service from the monthly internet charges.
Charlemont Treasurer Lynn Hathaway, working with the town’s financial advisor, issued this $500,000 state house note as the first town debt against the $1.75 M borrowing authorization approved by voters at town meeting in 2015. The cost of all work to date was paid for through state grants.