1993-06-BOS-min - Laserfiche WebLink

Browse Search

SELECTMEN'S MEETING June 14, 1993 A regular meeting of the Board of Selectmen was held on Monday, June 14, 1993, in the Selectmen's Meeting Doom, Town office Build- ing, at 7:30 p.m. Chairman Dailey, Mr. McSweeney, Mr. Busa, Mr. Fenn; Mr. Cohen, Town Counsel; Mar White, Town Manager; Mrs. Novak, Assistant Town Manager; and Mrs. Peters, Executive Clerk, were present. VOTE UT RIZE FUN ING F THE FY93 Mr. White noted that the Selectmen's vote to refund the FY93 Sewer Debt would allow the Town to take advantage of State refi- nancing and financing of the North Lexington Pumping Station at an approximate savings of $500,000 over the life of the loan, by providing the Town with a very low interest loan. Upon motion duly made and seconded, it was voted: (1) That the Town shall issue a bond or bonds in the aggregate principal amount of $3,103,303 the "Bonds ") pursuant to Chapters 29C and 44 of the General Laws and a vote of the town passed March 27, 1931 (Article 20), in order to refund a portion of the principal of and interest on the bonds of the Town dated July 15, 1992, issued for construction of sewers and other water pollution control facilities (the "Project ") ; (2) that each Bond shall be issued as a single registered Bond, and sold to the Massachusetts Water Pollution Abatement Trust (the r "Trust ") at a price of not less than par plus accrued interest, less the town's share of the costs of issuance of the Trust's bonds; (3) that the Treasurer is authorized to determine the date, the fora, the maximum interest rate and the annual principal maturities of each Bond and to execute a Loan Agreement with the Trust to evidence the sale of the Bonds, such date form and maturities and the specific interest rate or rates of the Bonds to be approved by a majority of the Board of Selectmen and the Treasurer and evidenced by their execution of the Bonds; (4) that all action taken to date by the Town and its officers and agents to carry out the Project and its financing, including the execution of any loan commitment or agreement by the Treasurer, are hereby ratified, approved and confirmed; and (5) that the Treasurer and the other appropriate Town officials are each hereby authorized to take any and all actions necessary and convenient to carry the provisions of this vote, including execution and delivery of the Loan Agreement and the Project Regulatory Agreement relating to the Project and a Refunding Trust Agreement with Shawmut Bank, N.A. to provide for the payment of the refunded bonds IN OF ACTING POLICE C IEF CHRIS CASEY Mr. white introduced Lieutenant Chris Casey, who he has appointed Acting Police Chief, effective July 1, 1993, for the interim period until a new Chief has been appointed to fill Chief Paul Furdon's position. Mr, white briefly reviewed Acting Chief Casey's qualifications, including his academic and employment background*