HomeMy WebLinkAbout1976-11-08-AC-MIN.pdf 249
APPROPRIATION COMMITTEE
DATE: November 8 , 1976
TIME: 7:30 P.M.
PLACE: Town Office Bldg. Room G-15
PRESENT: Edward E. Furash, Chairman, Donald White , Vice Chairman-
Schools, Peter Hall, Vice Chairman-Gen Gov't. , Jack
Campbell, Martin Gilman, Patricia Hagedorn, Mitzi Kutchin
OBSERVER : Jeff Shaw
I . BONDING
a. Mr. White feels strongly for bonding on a ten year basis -
Mr. Zehner tends to go for 5 years.
b. Effect of Maturities on Interest Costs (Attached) .
c. Mr. Zehner is to research more details and report back
to the Committee .
II . MINUTEMAN REGIONAL VOCATIONAL SCHOOL
Upon motions duly made and seconded, it was VOTED by
the Committee to have Mr. Donald White serve on the
Financial Advisory Committee.
SO VOTED
III . YOUTH COMMISSION
a. Mrs. Kutchin reported on her reaction to the
report (on file) . She felt it was a good one .
b. Out-Reach-Workers - Mrs. Kutchin is not too sure how
kids are going to react to this. I do feel the youth
in the Town need someone to coordinate with them.
Perhaps this could be tied in with Recreation and
Police .
c . Some of the requests in this report should be laid
out before the Town Meeting Mr. Gilman stated.
d. Mr. Furash stated that he wanted a definite price tag
here to see if Town Meeting will go along with it.
I V . DPW
a. Mr. Campbell presented the Committee with a memo re his
discussions with Messrs. McSweeney, Empey and Coshia.
b. Mr. Campbell informed Mr. McSweeney's office of his
presenting said memo to the Committee and so invited him
to attend. Mr. McSweeney at this time 8 :45 P.M. has not
arrived. 9:15 P.M. Mr. McSweeney joined the meeting and
was given a copy of Mr. Campbell's report.
Note : Mr. Campbell stated that re Town vehicles it was
very definitely stated by Messrs. Coshia and Empey
that if they did not have a town car and an emergency
250
DPW (Continued)
should arise they should not expect that they would
come out.
V. METCO
Mr. Furash informed the Committee that Superintendent
Lawson had dropped off some material re the above subject
and he had not as yet had a chance to read it.
VI . POLICE
Mr. Hall informed the Committee that he had a meeting with
Chief Corr. There is a 5/ increase because of inflation.
VII . FIRE
Mr. Hall has had two sessions with the Fire Department.
Operating budget went down by $2450.
Note : Mr. Hall stated that both Chief Corr and Fire Chief
Marshall were very insistent that the Town vehicles
be with them at home during off hours.
VIII . CONSERVATION - SANITARY LANDFILL
Mrs. Hagedorn stated that she is to meet with the above
two committees and will report back to the Committee.
IX . RECREATION
a. No money will be asked for this year?
b. Do they really know that they have to have a recreation
plan?
c. Do they have the ability to do it?
Meeting adjourned at 9:35 P.M.
Next meeting is scheduled for Monday, November 22, 1976 at 7 :30
P.M.
Respectfully submitted,
J n H. Blaisdell/mo'b
Secretary
THE EFFECT OF MATURITIES ON INTEREST COSTS
($800,000 BOND ISSUE)
YEARS RATE TOTAL INTEREST PRIN. AND INTEREST
5 4.0% $96, 000 $896,000
10 4.7 206,800 1,006,800
15 5.0 340,000 1,140,000
20 5.4 453,600 1,253, 600
FIVE YEAR MATURITY ON $800,000 BOND
NET DEBT EFFECT ON EFFECT OF TOTAL
FY
SERVICE TAX RATE NEW BONDING DEBT e
$ TAX RATE SERVICE -. I /t
r. `i s
i J J .
'77 $1,189,640 $4.759 0 4.759/0
Vic,>, f
'78 1,078,175 4.312 $194,000 $.776 5.088 �. 57,i6-. -,
C
'79 982,975 3.932 187,200 .749 4.915