2014-03-31-ATM-STM-CEC-rpt (Updates & Errata 03-31-14)

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UPATES &ERRATA TO CAPITAL EXPENDITURES COMMITTEE REPORT TO 2014 ATM&STM Pages 40 &41, Articles 8(b)–(e): In the header boxes, append to the Description"(Historic Resources)". Page 42, Articles 8(f) &(g): In the header boxes, append to the Description"(Community Housing)". Page 43, Articles 8(i)–(l): In the header boxes, append to the Description"(Recreation)". Page 58, Article 14(i), the table, 2nd line: In the Original Debt Authority, change "13"to "13(e)". Page 59, Article 16: a. Header box: Change the Amount for Rescission from "S323,830.78"to "S318,673". b. In the paragraph beginning"At the time of this report",replace the table in its entirely with: Reason Original Appropriation Descriptions Amount Unneeded at Project Completion 2010 ATM Article 13(b) Rehabilitating Standpipes $20,000.00 2011 ATM Article 14 Street Betterment—Frances Road $33,000.00 2012 ATM Article 11(d) Park Improvements—Athletic Fields $7,173.00 2012 ATM Article 12(e) DPW Equipment $12,307.00 Subtotal $72,480.00 Replaced by Premium on Bonds 2011 STM(Nov 14)Article 2 Bridge/Bowman Reconstruction $98,378.00 Sold on February 5,2014t 2012 STM(Apr 2)Article 3 Estabrook School Construction $147,815.00 Subtotal $246,193.00 Total $318,673.00 tSee Article 22 for where these amounts are appropriated as a supplement to the original appropriations;thereby,there is no change to the total funding authority for each project. Page 60, Article 17: a. Header box: Replace in its entirety with: Article 17:Establish and Funds Funding Committee Appropriate To and From Requested Source Recommends Specified Stabilization Capital Projects/Debt Service Reserve/Building Renewal SF Funds (SFs) Withdraw Capital Projects/Debt $950,000; Service Reserve/Building Renewal SF Approval(5-0) Deposit $2,974,417 GF (Cash) + $6,160,726 $3,186,309 GF (Free Cash) Traffic Mitigation SF Deposit Traffic Mitigation Special $40,000 Revenue Account Approval(5-0) b. Starting with the paragraph beginning "The only one", replace it and the rest of the text for this Article with: [Begin replacement text] The only two of the funds identified in the Warrant under this Article with capital implications and for which actions are contemplated at this Annual Town Meeting are as follows: a. The Capital Projects/Debt Service Reserve/Building Renewal SF—whose balance as of February 28, 2014, is $3,988,416.72: (1) The first action is to withdraw from that fund, with a 2/3rd vote, $950,000 to be used to mitigate the increase to the taxpayers from the exempt-debt service for the Bridge/Bowman, and Estabrook Schools projects. (An additional $919,000 will be withdrawn as an appropriation under 2