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SHIRLEY — The Board of Selectmen (BOS) recently approved $5,920,000 in school construction bonds and the capital program debt to Morgan Keegan & Co.

“These are general obligation bonds for the school, the sewer and some items on the capital plan. These bonds are right on schedule. We are maintaining our bond rating of A,” said treasurer Kevin Johnston “We had nine bidders, and the lowest bid was 3.894867 percent … The interest estimate we had received was 6 percent. (Residents) will save that on their tax rate going forward.”

“I think it was excellent that the town was able to maintain its bond rating of A, especially in this economic climate,” said Selectman David Swain.

The selectmen later approved the appointment of town resident Richard Hatch to the Massachusetts Bay Transit Authority (MBTA) Advisory Board.

The board serves as the public oversight of MBTA with approval powers over MBTA’s annual budget and 20-year capital plan. The advisory board also comments on transit issues and provides a forum for communities to speak with MBTA representatives.

In addition, the selectmen approved a transfer of licenses from the ROB Investment Corp., doing business as Piccolino Club and Piccolino Inc., after a public hearing Monday.

These licenses include an automatic amusement license, a license for public entertainment on Sunday, an automatic amusement device license and a common victualler’s license for all alcoholic beverages.

“Tim Bresnahan is the sole owner of Piccolino Inc. The operation will be very similar to what people are used to,” said attorney Thomas Gibbons. “The proposed manager is Aaron Baird, and he has been working with Bob Harrington (the previous owner) for the past month getting used to the operations of the organization.”

“I am very pleased to see that Shirley residents are purchasing the establishment, and looking forward to seeing the establishment being operated the way it currently is,” said Selectman David Swain.

“Mr. Harrington, you have one of two very fine establishments in town, and we thank you for all the years you have been in town,” said Selectman Leonardo (Chip) Guercio, owner of the Bull Run Restaurant.

Finally, the selectmen approved a subordination agreement for 18 Phoenix St.