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.