2012-03-16-CEC-min - Laserfiche WebLink

Browse Search

Minutes of the Lexington Capital Expenditures Committee (CEC) Meeting Date, Place, and Location: March 16, 2012 8:00 A.M., Cary Memorial Building, Ellen Stone Room Members Present: Charles Lamb, Chair; Ted Edson, Vice - Chair; Shirley Stolz; Bill Hurley; David Kanter Other Attendee: Rob Addelson, Assistant Town Manager for Finance Documents Presented: Draft #6 of the Capital Expenditures Committee Report to the 2012 Annual Town Meeting (ATM) & 2012 Special Town Meeting (STM), April 2, 2012 distributed electronically, March 15, 2012, with its "Strawman" 5 -Year Capital Plan also distributed in printed form at the meeting. Call to Order: Mr. Lamb called the meeting to order at 8:00 A.M. Approval of Previous Meeting's Minutes: It was moved and seconded that the Minutes of the Committee's March 13, 2012, meeting as reflected in the draft that had been distributed electronically, March 15, 2012, with the changes proposed today, be approved. Vote: 5 -0 Discussion of the Committee's Report to the 2012 ATM and 2012 STM (April 2, 2012): The Committee discussed the contents of Draft #6, reviewed the Comments that Mr. Kanter had entered —with some being resolved and the rest assigned to members and to be addressed in the future draft(s), and Committee decisions were made on a major portion of the Committee's 5 -Year Capital Plan. Motion: It was moved and seconded to approve Indefinite Postponement of Article 26 (Appropriate for Authorized Capital Improvements) as there are no known requirements. Vote: 5 -0. Note: As the Committee learned later in the meeting there may be one requirement under that Article (see below), it is recognized that it may become necessary to revise the report text and then re -vote this Article —even if only to a "Pending" recommendation.] Mr. Addelson arrived and there was a discussion with him about the Committee's report, including some issues the Committee had with the Town's 5 -Year Capital Requests. He also provided a status on the following Articles: Article 19 (Rescind Prior Borrowing Authorizations). He is still working on that, but we can expect there will be some. He will get back to the Committee with the details, once known. Article 21 (Establish And Appropriate to Specified Stabilization Funds): He will send us a spreadsheet reflecting the currently contemplated actions —from which the Committee can determine those with Capital implications on which to report. He said there will be discussion of new "Capital Projects Stabilization Fund" at next Monday-night's (the 19 th ) Page 1 of 2