2012-11-19-STM-Warrant - Laserfiche WebLink

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DESCRIPTION: This article proposes to establish and/or fund Stabilization Funds for specific purposes. Money in those funds may be invested and the interest may then become a part of the particular fund. The use of these funds may be appropriated for the specific designated purpose by a two-thirds vote of Town Meeting. ARTICLE 4 APPROPRIATE TO POST EMPLOYMENT INSURANCE LIABILITY FUND To see if the Town will vote to appropriate a sum of money to the Town of Lexington Post Employment Insurance Liability Fund, as established by Chapter 317 of the Acts of 2002,determine whether the money shall be provided by the tax levy,by transfer from available funds,including enterprise funds,or by any combination of these methods; or act in any other manner in relation thereto. (Inserted by the Board of Selectmen) FUNDS REQUESTED: unknown at press time DESCRIPTION: This article will allow the Town to continue to fund its unfunded liability for post employment benefits for Town of Lexington retirees. Beginning with the FY2007 audit,the Town was required to disclose this liability. In preparation for funding this liability,Town Meeting voted to request special legislation to establish a trust fund for this purpose. This special legislation was approved in 2002. ARTICLE 5 ESTABROOK SCHOOL ACCESS IMPROVEMENTS To see if the Town will vote to raise and appropriate a sum of money for street,drainage,intersection and sidewalk improvements to Grove Street and Robinson Road in connection with the construction of the new Estabrook School,determine whether the money shall be provided by the tax levy,by transfer from available funds,by borrowing,or by any combination of these methods;or act in any other manner in relation thereto. (Inserted by the Board of Selectmen) FUNDS REQUESTED: $1,500,000 DESCRIPTION: This article requests funding for the construction of street,drainage,intersection and sidewalk improvements to Grove Street and Robinson Road improve safety. ARTICLE 6 APPROPRIATE FOR NEW ESTABROOK SCHOOL To see if the Town will vote to appropriate an additional sum of money to demolish the existing Estabrook School and construct,originally equip and furnish a new Estabrook School to be located at 117 Grove Street to be expended under the direction of the Permanent Building Committee,which school facility shall have an anticipated useful life as an educational facility for the instruction of school children of at least 50 years, and for which the Town may be eligible for a school construction grant from the Massachusetts School Building Authority("MSBA"); and to determine whether the money shall be provided by the tax levy,by transfer from available funds,by borrowing,or by any combination of these methods;or act in any other manner in relation thereto. The Town acknowledges that the MSBA's grant program is a non-entitlement,discretionary program based on need,as determined by the MSBA, and any project costs the Town incurs in excess of any grant approved by and received from the MSBA shall be the sole responsibility of the Town. Any grant that the Town may receive from the MSBA for the project shall not exceed the lesser of(1)thirty-three and ninety- six hundredths percent(33.96%),which may potentially increase if, at the discretion of the MSBA,the Town receives any incentive reimbursement points,of eligible,approved project costs, as determined by the MSBA,or(2)the total maximum grant amount determined by the MSBA. (Inserted by the Board of Selectmen at the request of the School Committee) FUNDS REQUESTED: unknown at press time