1997-03-03-TE-Warrant-and-1997-03-24-ATM-Warrant

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ARTICLE 39 GUIDELINES FOR FINANCING CAPITAL EXPENDITURES To see if the town will vote to adopt a resolution setting forth suggested guidelines for budgeting and financing capital expenditures; or act in any other manner in relation thereto. (Inserted by the Appropriation Committee) DESCRIPTION: The Board of Selectmen, School Committee, Capital Expenditures Committee, Building Finance Committee, Long Range Planning Committee and the Town's Capital Budget Team have each identified funding levels required to renew, replace, improve, and expand the Town's equipment, buildings, and infrastructure. The Town needs a systematic, long-term approach to budgeting and financing capital expenditures, particularly those capital investments that the tax levy must support. The Appropriation Committee will present budgeting and financing guidelines that reflect: 1. The prior efforts of other elected and appointed boards and committees. 2. The different categories of capital investments. 3. Town and School equipment replacement schedules. 4. Approaches used in other communities. 5. Practical consequences of proposed guidelines. ARTICLE 40 RETIREMENT BOARD MILITARY SERVICE BUY-BACK To see if the Town will vote to approve acceptance by the Lexington Retirement Board of the provisions of Chapter 71 of the Acts of 1996 which provides that members in service and who are veterans, as defined in Section 1 of Chapter 32 of the General Laws, may purchase up to four years of creditable service corresponding to their periods of active service in the armed forces; or act in any other manner in relation thereto. (Inserted by the Retirement Board) DESCRIPTION: If accepted, this Section provides that a member in service of a retirement system who is a veteran who served in the armed forces of the United States and who has completed ten or more years of membership service shall be entitled to credit for active service in the armed services of the United States. Creditable service shall not be construed to include service for more than four years. ARTICLE 41 RETIREMENT BOARD MEMBERS COMPENSATION To see if the Town will vote to approve acceptance by the Lexington Retirement Board of the provisions of Section 53 of Chapter 38 of the Acts of 1995, amending Section 20 of Chapter 32 of the Massachusetts General Laws providing for compensation of Retirement Board members; or act in any other manner in relation thereto. (Inserted by the Retirement Board) 28