1929-04-08-ATM-MIN - Laserfiche WebLink

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283 Company to be released from any betterment assess - ment which may be leviedby the Town because of said sale to the Town or any improvement mnde in Massachusetts Avenue as a result of said sale and the widening and street construction on the land so sold next following the sail purchase . Further VOTED : `lh ^ t the sum of $ 30 , 000 be arrrepri ate •' Por tte purpose of the porch as of land of Stun rt- Marshall Realty Company authorized by this meeting and that to meet the said ap- pronri it i -ten the sum of '4; 15 , 000 be now a.pnronri n ted and assessed and th ^ t for the rurrose of payment • • of the bai ^ nce nt such time or times here F' ter as the Town Treasurer with the nnrroval of the Board of Selectmen stall setermine , the Town Treasurer , with the approval of the Boar - of Selectmen be and he hereby is ao. thorized to borrow the sum of 015 , 000 and to issue bon' s or notes of the Town tin ereror , said bonds or notes to be payable in accordance with the provisions of section 19 of Chanter 44 of the General Laws , so that the whole loan. shall be paid in not more than ten years or at such earlier dates as the Treasurer , with the ' nnrnval of the Boar1 of oelec trnen , mny determine . " Upon motion of ' r . William H . Ballard it was voted thnt article 28 be laid on the table . Art . 31 . Under this article , r,,Ir . Witham E . Mulliken read the report of tme Ate-ernrri nti n n Committee . nn motion of Mr . William E . Mulliken it was unanimously , " Voted : That the resort of the Committee be accepted an '' n_ l ced. on file . " To the Citizens of the Town of Lexington : At the Town Meeting of January 7 , 1929 , by your vote , you requiredof yo1 ' r Apnrnrri a. t ion Committee • tmat they rerort to you , at some subsequent meeting , on the financial consition o ' the Town , and on the feasibility or ttie program for proposed ex- nenditures a.s outlined in the renort of t'- e committee on the study of the Eine and "rater Denartments . This report we now sup "mit for your consiHerati ' in . Lexington , at the present time , may well be said to be in a very creditable financial cnndi tion . In comparison with other municina. li ties , our c iedit rating s ' anss well un on the list , a very sn ti sf' actory condition and one thi t we should endeavor to maintain . '.7e hove a bonded debt of :‘i740 , 000 of which but $2F1 , 000 h ^ s been borrowed within the debt limit . Under the s classification we are permitted to borrow 3 % of our assessedvalua- tion which , if estimated as 120 , 000 , 000 allows us to still borrow :, 349 , 000 before reaching thnt limit . This should not be to"en to imnly theft we recommend the immediate use or this further credit , but it is available if any vote of the Town should ma 'Te it necessary or ' esi rable . '.''e ars' this ye ^ r nnyinr 3101 , 450 on this debt , and the amount Th , e in 1930 is but 182 , 500 ,500 , a very substantial decrease . as against this , h - wever , we should 'Teen in mina thnt article 11 , still to be acted upon , carries with it a nelw bon -1 issue or ' 80 , 000 for "inter Construction , and other articles in this same warrant , i r anted upon favorably , will undoubtedly bring our outstandinr indebtedness bac'r to the present figure and even M•, terially