Auburn Select Board Unanimously Approves $15.2 Million Bond Note After Document Error Delay

AUBURN -- June 25, 2026, Auburn Select Board approves $15.2 million bond note after bond counsel typo forced a one-week delay. The board voted 4-0 on five consecutive motions Thursday to authorize the sale of a $15,242,004 general obligation bond anticipation note, dated June 29, 2026, and maturing June 29, 2027, to Oppenheimer & Co. Inc. at par and accrued interest plus a premium of $187,476.60. Town Manager Vecchio told the board that a figure of $3.8 million had appeared in bond counsel's draft documents where $15 million was correct, "a scrivener's error on behalf of bond counsel," he said, and that the town could not reach bond counsel until 10 p.m. Monday to confirm the mistake. The five votes Thursday ratified the official statements, authorized a SEC Rule 15C2-12 disclosure undertaking, established post-issuance tax compliance procedures, and granted the interim town treasurer and board members authority to execute all related documents. No members of the public addressed the board at either comment period.