Hull Select Board Approves $3.5 Million in Bond Notes at Below-Budget Rate

HULL -- January 21, 2026, Hull Select Board unanimously approves $3.5 million in bond anticipation notes at a 2.5 percent interest rate, half the budgeted cost. The board approved two notes, a $1.8 million general obligation note funding the Nantasket Pier dredging ($1.1 million), Village Fire Station ($500,000), and landfill closure ($200,000), and a $1.7 million grant anticipation note bridging cash flow for the Seawall Project while federal funds arrive, after Fidelity Capital Markets submitted the winning bid of four received. Town Manager Jennifer Constable and Light Plant Operations Manager Mike Schmidt also presented a 2026 light plant budget projecting $12.5 million in revenues, with 72 percent from residential customers, and clarified that the town's backup generators require one to three hours to activate and respond only to town-wide outages, a point officials stressed ahead of a forecast weekend snowstorm. The board separately approved a permit for Hull Pride's inaugural Over the Rainbow Run 5K, set for May 2.