1970-09-28-AC-MIN.pdf - Laserfiche WebLink

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335 The Appropriations Committee held a meeting at 7:30 P.M., on Monday, September 28, 1970, in the office of the Comptroller, Estabrook Hall, Lexington. Present were Edward E. Furash, Chairman, Jack L. Mitchell, Vice Chairman, Elizabeth M. Flynn, Secretary, Arthur T. Bernier, J. H. Blaisdell, Levi G. Burnell, H. Bigelow Moore, Richard M. Perry, Comp- troller and Donald B. White and Howard L. Levingston. Meeting was held at 7:00 P.M. in the School Administration Building, with members of the School Committee to discuss the status of the new Junior High School. Meeting was held at 7:30 P.M., in Estabrook Hall, with Vernon C . Page, Eric Mollo-Christensen and Mrs. Ann Wallace, members of the study Com- mittee for a Vocational Regional High School. Discussion was held with In respect to Lexington' s financial share in the publication of a brochure on the proposed school ( approximately $1250.) . Discussion was also held G with respect to Lexington' s financial share in the capital costs and U operating expenses of the school should it be approved: 1st year $184,000. capital cost based on 310 10th year 127,000. " pupils from 20th year 64,000. " Lexington 1st year $186,000. operating exp. $4,120. would also have to be appropriated as the salary share for a Superintendent for the first year. Bussing would be free . The meeting was adjourned at 8:15 P.M. Meeting was held at 8:20 P.M. with the Selectmen, Town Counsel, Town Treasurer and Town Manager in the Bird Room, Town Treasurer Zehner presented methods of financing the Town Office Building as follows : 1. Finance all $790,000. at 5.501 for 10 years, the interest would be $302,775. 2. Split the total at 4.75/for two five year periods 3 . Finance all $790,000. at 4.75% for five years. Interest would be $111,862. In financing for five rather than ten years there would be an interest s9ving of $190,000. Mr. Zehner favored this plan, and the Selectmen concurred. Discussion was held on the financing of the proposed new Junior High School. Treasurer Zenner proposed short term borrowing. EXECUTIVE SESSION was VOTED at 9:05 P.M. Town Counsel Legro stated that upon survey by the Town Engineer of the Crawford property on Hayden Avenue 5.298 acres were in the parcel rather than 4 acres. An additional 4943. would be needed to be added to the appropriated $10,000. to reimburse the owner. Appropriations retired from the meeting at 9:15 P.M.