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2012-05-16-CEC-min
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2012-05-16-CEC-min
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5/17/2012 2:13:36 PM
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Minutes - CEC - Captial Expenditures Committee
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Minutes of the Lexington Capital Expenditures Committee (CEC) Meeting <br />Date, Place, and Location: May 16, 2012 7:15 P.M., Cary Memorial Building, Ellen Stone <br />Room <br />Members Present: Charles Lamb, Chair; Ted Edson, Vice - Chair; Shirley Stolz; <br />David Kanter <br />Member Absent: Bill Hurley <br />Call to Order: Mr. Lamb called the meeting to order at 7:15 P.M. <br />Community Preservation Fund Cash Appropriation for Wright -Farm Land Purchase <br />(2012 Annual Town Meeting Article 9) <br />The Committee discussed the advice received that the estimated amounts for the four <br />incidental costs associated with the purchase ($97,000) and the FY2013 interest for the <br />initial bond anticipation note (BAN) ($15,000) included in the Committee's Supplement to <br />the Report to the 2012 Annual Town Meeting had increased. The former is now at <br />$122,000 because of an increased estimate for the legal - related work; the latter is now at <br />$37,000 to be sufficient if there's a closing earlier than the late November or <br />December 2012 previously presumed. <br />It was moved and seconded that the Committee support the new component amounts of <br />$122,000 and $37,000 for Community Preservation Fund cash under Article 9 —and, <br />therefore, the new total of $159,000. Vote: 4 -0 <br />Approval of Minutes <br />Mr. Kanter read the Minutes that he had completed during this meeting for this meeting. It <br />was moved and seconded that those Minutes, to include the subsequent time of <br />adjournment, be approved. Vote: 4 -0 <br />Adjourn: A Motion was made and seconded at 7:21 P.M. to adjourn. Vote: 4 -0 <br />These Minutes were approved by the CEC at its meeting on May 16, 2012. <br />Page 1 of 1 <br />
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