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Selectmen's Meeting
<br />February 3, 2003
<br />A regular meeting of the Board of Selectmen was held on Monday, February 3, 2003 in the
<br />Selectmen's Meeting Room at 7:15 p.m. Chairman McSweeney, Mrs. Krieger, Mrs. McKenna,
<br />Mr. Kennedy; Mr. White, Town Manager; Mr. Lahey, Town Counsel and Ms. Smith were
<br />present.
<br />Public Comments
<br />Steve Tripi said he had been asked by several people about whether the override that is coming
<br />up will be on separate line items.
<br />Mr. McSweeney indicated the Board did have discussions throughout the process and quite a bit
<br />recently. The feeling was that the community would be better served that we did not. People
<br />involved in the Summit felt it would be better to have one question. It would require a $4.97
<br />million override.
<br />Representatives Kaufman and Stanley
<br />Mr. McSweeney welcomed Representatives Kaufman and Stanley who reviewed the FY04
<br />budget cuts being proposed by Governor Romney.
<br />Bonds, Bond Anticipation Notes and State Aid Notes
<br />Upon motion duly made and seconded, it was voted that the sale of the $51,448,000 Municipal
<br />Purpose Loan of 2003 Bonds of the Town dated February 1, 2003, to UBS Paine Webber Inc. at
<br />the price of $51,455,236.19 and accrued interest is hereby confirmed. The bonds shall be
<br />payable on February 1 of the years and in the principal amounts and bear interest at the
<br />respective rates, as follows, subject to earlier redemption at the option of the Town as provided
<br />in the Preliminary Official Statement dated January 16, 2003:
<br />Year
<br />Amount
<br />Interest
<br />Year
<br />Amount
<br />Interest
<br />Rate
<br />Rate
<br />2004
<br />$4,048,000
<br />2.25%
<br />2014
<br />$2,250,000
<br />4.00%
<br />2005
<br />4,600,000
<br />2.25
<br />2015
<br />2,240,000
<br />4.00
<br />2006
<br />3,790,000
<br />2.50
<br />2016
<br />2,225,000
<br />4.00
<br />2007
<br />3,015,000
<br />2.50
<br />2017
<br />2,225,000
<br />4.20
<br />2008
<br />2,885,000
<br />3.00
<br />2018
<br />2,225,000
<br />4.25
<br />2009
<br />2,675,000
<br />3.00
<br />2019
<br />2,000,000
<br />4.375
<br />2010
<br />2,450,000
<br />3.50
<br />2020
<br />2,000,000
<br />4.50
<br />2011
<br />2,425,000
<br />3.75
<br />2021
<br />2,000,000
<br />4.50
<br />2012
<br />2,420,000
<br />3.75
<br />2022
<br />1,935,000
<br />4.60
<br />2013
<br />2,415,000
<br />4.00
<br />2023
<br />1,625,000
<br />4.625
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