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02/26/15 AC Minutes ATM, Article 18;Appropriate for Public Facilities Capital Projects:It was noted that $350,000 for space mining at the Diamond Middle School has been removed from this request. ATM, Article 21;Appropriateto thePost Employment Insurance Liability Fund:It is currently proposed to transfer $1.86million transfer from the Health Insurance Fundto the OPEB Fund. It was noted that this is a substantial increase over last year’s appropriation of$1.2 million, and this year the Town has fiscal challenges that may take precedence over the Town’s effort to fund its liability for post-employment benefits to the extent recommended. Ms. Garberg added that the state budget deficit may impact Lexington’s local aid receipts. It was generally agreed that the BoS should be asked to considerreducing the request to $1.2 million. Additional funds can be appropriated for this purpose in the fallif it still seems wise to do so. ATM, Article 22; Adjust Retirement COLA Base for Retirees:Mr. Addelson reported that neither he northe Town Manager supportsthis article. The adjustmentwouldresult in impacted retirees receiving an additional $30 per year and would cost the Town $8,220 per year. He said that the Lexington retirement package formunicipal employeesis better than the package inother townsbecause of the greater amount Lexington contributes to the cost of health insurance for retirees.It was noted that approval would increasethe Town’s unfunded pension liability. A motion was made and seconded to support ATMArticle22. Themotion failed. VOTE: 3-6 ATM, Article 23;Accept Chapter 235 of the Acts of 1994:This proposal would allow firefighters who have beenlaid off and recalled within three years to continue to payinginto the retirement system for up to the three years. Theythen receive credit for those years when calculating their years of service for retirement purposes. This provision wouldalso potentially increase the Town’sunfundedpension liability. A motion was made and seconded to support ATMArticle23.The motion passed. VOTE: 8-1 ATM, Article 24Bonds and Notes Premiums:Mr. Addelson reported that a bond was recently issued that included three school projectsand the Town received a premium of $138,033. It was agreedthat a motion to appropriate the premium to lower the debt service on the borrowing would be an appropriate item for a consent agenda. A motion was made and seconded to support ATMArticle24.The motion passed. VOTE: 9-0 The meeting was adjourned at 10:07p.m. The documents used at the meeting are listed below. Respectfully submitted, Sara Arnold Recording Secretary Approved July 9, 2015 Exhibits 1.Agenda,posted by Glenn Parker 3