1987-03-02- To 1987-05-13-ATM-min

Browse Search

1 Akdjourned Session - 1987 Annual Town Meeting - April 1, 1987, cont.) (b) That the sum of $65,000 be appropriated for remodeling, reconstructing and making extraordinary repairs to the Bridge School and that to raise this amount $65,000 shall be transferred from the Insurance Reimbursement Account to supplement Article 35B of the 1986 Annnual Town Meeting. John Eddison, Selectman, moved that this article be postponed until Monday, April 27. Mr. Eddison explained that there are no bids at this time and that some are expected back by April 23. A voice vote was taken and the Moderator declared the motion postponed. 10:28 p.m. Shepard Clough served Reconsideration on Article 5 and Article 6. 10:29 p.m. ARTICLE 9. RESERVE FUND Presented by William Dailey, Jr., Selectman, MOTION: That the sum of $250,000 be appropriated for the Reserve (passed- see below) Fund and to raise such amount, $175,000.00 be transferred from the Reserve Fund - Overlay Surplus and $75,000.00 be raised in the tax levy. Mr. Dailey presented the function of the Reserve Fund and procedures related. He explained that the Appropriations Committee is involved in the approval process. 10:31 p.m. Renee Cochin, Precinct 7, asked how much is accumulated in the Reserve Fund. Mr. Dailey answered that there is approximately $125,000 presently in the Fund® Julian Bussgang asked if the Reserve Fund is available to the School Department and received an affirmative response. Mr. O'Sullivan added that the responsibility of the Appropriations Committee is shared with the Selectmen and urged approval. William Welch, Jr., asked what the tax rate would be in relation to this and Mr. Dailey answered eight cents. The Moderator declared the motion carried unanimously by voice vote. 10:34 p.m. ARTICLE 10. TAX ANTICIPATION BORROWING Presented by William Dailey, Jr., Selectman. MOTION: That the Town Treasurer, with the approval of the (passed- Selectmen, be authorized to borrow money from time to time in see below) anticipation of the revenue for the fiscal year beginning July 1, 1987 and to issue a note or notes therefor, payable within one year, under G.L. c. 44, sec. 4 as amended, and to renew any note or notes as may be given for a period of less than one year, under G.L. c. 44, sec. 17. Mr. Dailey listed the corporate citizens who had paid their anticipated taxes early. The Moderator declared the motion carried unanimously. 10:35 p.m. ARTICLE 11. UNEMPLOYMENT COMPENSATION FUND Offered by William Dailey,Jr., Selectman. MOTION: That this article be indefinitely postponed. The Moderator declared Article 11 indefinitely postponed by unanimous voice vote. 10:37 p.m.