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Minutes of the Lexington Capital Expenditures Committee (CEC) Meeting Date, Place, and Location: March 22, 2012, 8:00 A.M., Town Office Building, Room G -15 Members Present: Charles Lamb, Chair; Bill Hurley; Shirley Stolz; David Kanter Members Absent: Ted Edson, Vice -Chair Documents Presented: 1. Draft Minutes of the Capital Expenditures Committee Meeting, March 20, 2012 2. Draft #8 of the Capital Expenditures Committee Report to the 2012 Annual Town Meeting (ATM) & 2012 Special Town Meeting (STM), April 2, 2012 distributed electronically, March 21, 2012 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 meeting on March 20, 2012, be approved as presented. Mr. Lamb advised that his comments regarding appropriating some of the newly available revenue to a Stabilization Fund had not been accurately recorded. The Committee agreed and the Motion was revised to approve the minutes, with the correction. Vote: 4 -0. Approval of the Committee's Report to the 2012 ATM and 2012 STM (April 2, 2012): After the Committee reviewed Draft #8, it was moved and seconded that the Committee approve Article 23 (Appropriate from Debt Service Stabilization Fund) and Article 26 (Appropriate for Authorized Capital Improvements) considering the latest information that had been provided by Mr. Addelson, Assistant Town Manager for Finance, as reflected in that draft. Vote: 4 -0. It was moved and seconded that the Committee approve Draft #8 as its report to the named Town Meetings, but with the understanding that Mr. Kanter was authorized to make further editorial and other changes that did not materially affect any of the language or positions of the Committee. Vote: 4 -0. Adjourn: A Motion was made and seconded at 8:45 A.M. to adjourn. Vote: 4 -0 These Minutes were approved by the CEC at its meeting on March 26, 2012. Page 1 of 1