2000-03-13-TE-Warrant-and-2000-03-27-ATM-Warrant

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ARTICLE 15 STABILIZATION FUND To see if the Town will appropriate a sum of money for the Stabilization Fund in accordance with Section 5-B of Chapter 40 of the General Laws; determine whether the money shall be provided by the tax levy, by transfer from available 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: None at Press Time DESCRIPTION: Money may be appropriated into a stabilization fund that may be invested and the interest may then become part of the fund. The use of these funds may later be appropriated, by a two-thirds vote at an Annual or Special Town Meeting, for any purpose for which the town would be authorized to borrow money under Sections 7 and 8 of Chapter 44 of the General Laws, or for any lawful purpose. ARTICLE 16 RETIREMENT BOARD To see if the Town will vote to approve the acceptance by the Lexington Retirement Board of Section 51 of Chapter 127 of the Acts of 1999, which adds Section 103(i) to Chapter 32 of the General Laws to allow an annual cost of living adjustment in excess of the percentage increase otherwise allowed by Section 103(c), up to a maximum of three percent; or act in any other manner in relation thereto. (Inserted by the Retirement Board) DESCRIPTION: The 1998 Annual Town Meeting accepted legislation that allowed the Retirement Board to grant cost of living adjustments to Town of Lexington retirees. That legislation provides for a maximum of 3% or the Consumer Price Index, whichever is lower. Acceptance of this additional section will allow the Retirement Board to grant a cost of living adjustment up to 3% on the first $12,000 or$360 in a year when the Consumer Price Index is less than 3%. The CPI this year is 2.1%, which limits the maximum to $252. 17