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2019-02-07-AC-min
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2019-02-07-AC-min
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2019
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Minutes - AC - Appropriation Committee
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02/07/2019 AC Minutes <br /> DRAFT Minutes <br /> Town of Lexington Appropriation Committee(AC) <br /> February 7, 2019 <br /> Place and Time: Parker Room, Town Office Building, 7:30 p.m. <br /> Members Present: Glenn Parker, Chair; Sanjay Padaki, Vice-Chair; Alan Levine, Secretary; <br /> John Bartenstein; Eric Michelson; Nick Nichols; Carolyn Kosnoff, Assistant Town Manager, <br /> Finance(non-voting, ex officio) <br /> Members)Absent: Ellen Basch; Richard Neumeier; Lily Manhua Yan <br /> Other Attendees: None <br /> The meeting was called to order at 7:35 p.m. <br /> Announcements and Liaison Reports <br /> Based on comments at the February 4, 2019 Board of Selectmen's meeting and input from those <br /> present, the following was discussed: <br /> • Crematorium at Westview Cemetery: It is unclear whether the unanswered questions can be <br /> resolved in time for it to be included in the 2019 ATM. Mr. Padaki noted that it is unlikely <br /> the Ad hoc Crematory Committee would recommend a separate building for a crematory; if <br /> a facility is to be built, it is preferred that it be located adjacent to the new cemetery building <br /> that is being proposed. He also noted that State regulations require a crematory to be located <br /> on cemetery property, the use must be coordinated through a funeral director, and the <br /> building would need a gas line, electricity and a sewer connection. In addition to the capital <br /> expenses there will be annual operational costs. Ms. Kosnoff noted that the Crematory <br /> Committee has collected a large amount of data related to the business and function of <br /> crematoriums. <br /> • The Town's Sustainability Policy: The BoS discussed efforts to update the policy. Jim <br /> Malloy, Town Manager, is working to combine two versions. It was generally agreed by this <br /> Committee that the policy should avoid specific guidelines. <br /> • Bonds and Bond Anticipation Notes (BANS): Ms. Kosnoff reported that the Town received <br /> 11 bids on bonds issued for $57.4 million. Factoring in a $3.4 million premium, the low bid <br /> offered a net effective interest rate of 3.21%. The Town's financial modeling had used 4.0%. <br /> The borrowing for excluded debt was for 30 years; the other bonds were for five to ten <br /> years. The interest rate for the $8.37 million in BANs was 1.77%,which is for one year. <br /> Town Website Support for Open Meeting Law Compliance <br /> Mr. Parker reported that he and Mr. Padaki now have accounts on the Town's official website that <br /> grant them access to publish documents under the web page for this Committee. There is a new link <br /> labeled"Committee Draft Documents" in the sidebar menu on the Committee page that leads to a <br /> page where documents are to be shared. In response to requirements in the Open Meeting Law, the <br /> Committee intends to use this facility to share documents with fellow Committee members and the <br /> public in advance of public meetings. Committee members are asked to send documents to Mr. <br /> Parker and Mr. Padaki, who will upload the documents and notify the Committee once they are <br /> available online. To avoid unintended deliberation outside a public meeting, comments, corrections <br /> and edits to those documents should only be shared during Committee meetings. <br /> 1 <br />
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