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The New Bedford City Council's Finance Committee met on May 27, 2026, chaired by Councillor Joseph P. Lopes. The meeting began with the reading of letters from Councillors Shawn Oliver and Ryan J. Pereira regarding their absence, and letters from Councillors Derek Baptiste, Naomi R. A. Carney, and Brian K. Gomes regarding their expected late arrival. A brief procedural delay occurred as the committee initially lacked the eight members required to vote on a borrowing item. City attorney Gorotowski advised on the process of recessing, but an eighth member arrived shortly after, allowing the meeting to proceed without delay. The sole item of business was a request from City Treasurer John Taxachusseth for interim loan financing for several Massachusetts Clean Water Trust projects. These projects, totaling over $61 million, included wastewater treatment plant improvements ($9,579,495), wastewater collection system improvements (two loans totaling $17,515,000), lead service line removal ($20,503,801), and wastewater pumping station improvements ($13,485,000). The treasurer explained these were two-year, 0% interest interim loans that would later convert to 20-year permanent loans at a 2% interest rate. Following the presentation, the committee voted unanimously, 8-0, to approve the financing request. The committee then waived the second agenda item and adjourned at 7:07 PM.
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You gonna have me read the letters?
0:22Nope.
0:46It is 6:59 PM on May 27th, 2026, for the City Council finance agenda.
0:53We do have letters to be read into the record.
0:55I will ask the clerk to read the letters into the record.
0:57From Councilor Oliver, I'm writing to inform you that I'm unable to attend tonight's committee meeting due to a prior commitment.
1:03Please read this letter into the record to make my colleagues and the public aware of the reason for my absence.
1:09This is from Councilor Pereira.
1:11I'm writing to inform you that I've been unable to attend tonight's committee meeting due to a prior commitment.
1:15Please read this letter into the record to make my colleagues and the public aware of my absence.
1:20Absence.
1:20And this from Councilor Baptiste: I'm writing to inform you that I expect to be late for tonight's committee meeting due to a prior commitment.
1:26Please read this letter into the record to make my colleagues and the public aware of the reason for my delayed arrival.
1:31He's here.
1:32Okay, this is from Councilor Carney: I'm writing to inform you that I expect to be late for tonight's committee meeting due to a prior commitment.
1:41Please read this letter into the record to make my colleagues and the public aware of reason for my delayed arrival.
1:46Councilor Gomes, I am writing to inform you that I expect to be late for tonight's committee meeting as I will be attending the Traffic Commission meeting at this time.
1:53Please read these letters into the record to make my colleagues and the public aware of the reason for my delayed arrival.
1:58Second.
1:59Second.
2:00Made by Councilor Abrams, second by Councilor Chouquette.
2:02All those in favor, oppose, the ayes have it.
2:05Notice, this meeting is being live streamed and recorded.
2:07The City Council committee meetings can be viewed on the City of New Bedford's homepage under Quick Links then meetings.
2:14We do have 2 items together tonight, but we need 8 votes to pass the items.
2:19Without having 8 votes, I'm going to have Attorney Gorotowski give us the mechanism in which we can table the meeting and then come back after the next meeting, which is the Committee on Ordinance.
2:30Attorney Gorotowski.
2:32So, Mr. Chairman, um, it appears that there's a borrowing item before the, before the committee that would require 8 votes.
2:39There's 7 members of the committee present.
2:42So, um, I do know that there's some expectation that we may get another member here at some point in the night.
2:49I know there's an ordinance committee meeting that's supposed to follow.
2:52What this committee could do is recess this meeting with the intention of, um, reconvening tonight so that anybody wanting to know what the outcome is, this doesn't leave and thinking that the meeting's over.
3:05So we'd recess the meeting.
3:07You could then go do the ordinance committee and then reconvene the finance committee to see if you can get the requisite number of members to vote on this, or to pass it.
3:17Not, not to vote on it, but requisite.
3:20Hold on, we got an attorney.
3:23Uh, Councilor Gert, uh, Councilor— now we have 8, so we don't need to recess.
3:27We have 8 votes now.
3:28You— we waited long enough.
3:29Thank you.
3:30All right.
3:31Item number 1 is a communication from John Taxachusseth.
3:35Nope, we're going to keep going, Gus.
3:41Uh, communication John Taxachusseth, Treasurer, collected to Councilor Joseph P. Lopes, Chair, Committee on Finance, presenting a request for the interim loan financing for the Massachusetts Clean Water Trust projects.
3:52The interim loans are available to the city at an interest rate of 0.0%.
3:57It was received on May 6th, 2026, and the invitees are Robert Ekstrom, Chief Financial Officer, John— Jamie Ponte, Commissioner of Public Infrastructure, and John Tractatusius.
4:07Can I get a motion?
4:08Motion to receive and place on file.
4:10Made by Councilor Roy, seconded by Councilor Abreu.
4:13All those in favor?
4:14Aye.
4:14Opposed?
4:14The ayes have it.
4:15John, would you like to give us an overview of the request?
4:23Good evening, Mr.
4:24Chair, councilors, and Clerk of Committees.
4:27Thank you for holding the Finance Committee meeting.
4:29I'm here today to request the approval of the interim loan financing for the following Massachusetts Clean Water Trust projects that are available to the city at an interest rate of 0%.
4:40CWP-24-49 with principal amount of $9,579,495 for for the purpose of wastewater treatment plant improvements.
4:52This is under the loan order that was approved on June 15th, 2022, for $119 million.
5:01CWP-2474 with the principal amount of $15,614,498, and CWP-2474A with principal amount of $1,900,502, both for the purpose of wastewater collection system improvements under the same loan order that was approved on June 15, 2022, for $119 million.
5:29DWPLC 2465, with principal amount of $20,503,801, the purpose of lead service line removal phase 3.
5:44This is under the loan order that was approved on August 14th, 2024, for $34.8 million.
5:52And CW2477 with principal amount of $13,485,000 for the purpose of wastewater pumping station improvements.
6:03This is under the loan order that was approved on July 25th, 2023 for $20 million.
6:09These interim loan terms are on a 2-year note at 0.00% interest that gets rolled into a permanent loan depending on when it's going to be completely drawn down.
6:21At that time, uh, when it goes into a permanent loan, it would be at a 20-year maturity at 2% interest rate.
6:29Thank you.
6:32I receive a motion to receive and place on file the communication from our treasurer-collector on the information that he just presented.
6:39Seconded by Councilor Abreu.
6:40Seconded by Councilor Pepperton.
6:42All those in favor?
6:43Opposed?
6:43The ayes have it.
6:44Does anyone have any questions for our treasurer?
6:48Seeing none, we would need a motion to— Councilor Abreu.
6:54Thank you, Mr. Chairman.
6:54Thank you, Mr.— Yes, thank you, Gus.
6:56Mr. Chairman, motion to refer out to the full city council.
6:59Nope.
7:00I'm sorry.
7:00No, you're right.
7:01You are correct.
7:02All right, yep, no, I'll, I'll concede the floor for now.
7:05I'm ready to make a motion, Mr. Chairman, but I'll yield for now.
7:10Any— if there's no questions, we need a motion to approve as presented.
7:14So moved.
7:15Made by Councilor Abreu.
7:16Seconded?
7:17Seconded by Councilor Burgo.
7:18All those in favor?
7:19Aye.
7:20We— oh yeah, sorry, we need a roll call.
7:23Councilor Abreu?
7:24Yes.
7:25Yes, Councilor Abreu.
7:26Councilor Baptiste?
7:26Yes.
7:27Yes, Councilor Baptiste.
7:28Councilor Burgo?
7:29Yes.
7:29Yes, Councilor Burgo.
7:30Councilor Carney?
7:31Yes.
7:31Yes, Councilor Carney.
7:32Councilor Choquette?
7:32Yes.
7:32Yes, Yes, Councillor Chauquette.
7:35Councillor Lopes?
7:36Yes.
7:36Yes, Councillor Lopes.
7:37Councillor Pemberton?
7:38Yes.
7:38Yes, Councillor Pemberton.
7:40Councillor Roy?
7:42Yes.
7:42Item passes 8 to 0.
7:46Can we get a motion to waive item, uh, 2, referring out to the full city council for no further action?
7:52Made by Councillor Burgo.
7:53Second by Councillor Baptiste.
7:55All those in favor?
7:55Aye.
7:56Opposed?
7:56The ayes have it.
7:57Can we get a motion to adjourn?
7:58Second.
7:59Motion to adjourn made by Councillor Abreu, seconded by Councillor Pemberton.
8:02We are adjourned.
8:03All those in favor?
8:04Opposed?
8:05We are adjourned at 7:07 PM.
8:07Thank you, everyone.
8:08Thank you.