Pembroke has successfully capitalized on its strong financial standing, securing competitive interest rates for over $49 million in municipal borrowing to fund the town’s massive infrastructure overhaul. During the September 17 meeting, Treasurer/Collector Kathleen reported that Standard & Poor’s recently reaffirmed the town’s AA stable credit rating and assigned an SP-1+ rating—the highest possible—for the town's short-term debt. These ratings paved the way for a highly successful bidding process on September 10, which will provide the primary funding for the new public safety building, water department upgrades, and school HVAC projects.

Kathleen explained that the town received 11 bids for the long-term bond issuance. Huntington Securities was the highest bidder with a net interest cost of 3.74% on $40.79 million in bonds. For the short-term Bond Anticipation Note (BAN) totaling $8.38 million, Truist Securities clinched the bid with a net interest cost of just 2.53%. Standard & Poor's has affirmed our double-A stable credit rating, Kathleen told the board, noting that the bids included a significant premium to help offset closing costs. Motion Made by R. Beal to approve the sale of $40,790,000 in General Obligation Municipal Purpose Loan bonds to Huntington Securities and $8,380,000 in notes to Truist Securities. Motion Passed 5-0.

The meeting also served as a major milestone for the Pembroke Fire Department, which was honored by Governor Maura Healey with a citation recognizing 50 years of continuous ambulance service. Fire Chief Jason Viveiros led a ceremony celebrating decades of commitment from both current and former staff. Our ambulance program is a cornerstone of public safety in the town and we are proud to continue the tradition of excellence and commitment to our residents, Viveiros said. The Chief presented 40-year service awards to Captain Robert Killinger and call firefighter Walter "Butch" Scolich, who remained with the department after his full-time retirement because he loved it so much.

In addition to service awards, the board witnessed the swearing-in of Lieutenant Seamus Ricciardelli, who was Chief Viveiros’ first hire over 11 years ago. Deputy Chief James Shea, Deputy Chief Mark Iasirero, and Captain Jordan Hill were also recognized for achieving fire chief accreditation from the Massachusetts Fire Service Commission. Chair Tracy Marino expressed her gratitude to the gathered families, noting, I really appreciate that you guys come out and share this with us. We like you to fill up our room.

The mood shifted toward town administration as the board addressed the upcoming expiration of Town Manager Bill Chenard’s contract. While the board moved forward with the formal renewal process, Chair Marino moved to separate the contract talks from a controversial proposed retention stipend. Marino, who has previously expressed a desire to see performance improvements before granting pay increases, requested more time to consult with legal counsel. I would prefer to table it to our September 24th meeting as I would like to reach out to Town Counsel before we have any sort of discussion on this, Marino said, adding that she was concerned public discussion might inadvertently touch on confidential performance details. Motion Made by D. Trabucco to enter into contract negotiations with the Town Manager. Motion Passed 5-0.

The board then moved to delay the stipend discussion, which has seen pushback from some residents regarding the size of the proposed $20,000 increase during a tight budget cycle. Motion Made by R. Beal to table the stipend item until September 24. Motion Passed 5-0. To facilitate the contract talks, the board established a two-person negotiating team. Member Rich Beal recommended the pairing of the Chair and the board's most tenured member, stating, It should be the Chair and somebody with a lot of experience with many town administrators. I nominate Dan and Tracy. Motion Made by R. Beal to appoint T. Marino and D. Trabucco to the Town Manager contract negotiating working group. Motion Passed 5-0.