HomeMy WebLinkAbout2017-03-20-AC-min
03/20/2017 AC Minutes
Minutes
Town of Lexington Appropriation Committee (AC)
March 20, 2017
Place and Time: Ellen Stone Room, Cary Memorial Building, 6:30 p.m.
Members Present: John Bartenstein, Chair; Alan Levine, Vice-Chair & Secretary; Ellen Basch;
Eric Michelson; Andrei Radulescu-Banu; Sanjay Padaki; Lily Manhua Yan; Jian Helen Yang
Member(s) Absent: Richard Neumeier; Carolyn Kosnoff, Assistant Town Manager, Finance (non-
voting, ex officio)
Other Attendees: None
The meeting was called to order at 6:35 pm.
1.2017 Special Town Meeting-1 (STM-1)
Mr. Bartenstein provided an update on STM-1, Article 5: Appropriate Bonds and Notes Premiums
to Pay Project Costs. Initially it was anticipated that all of the premiums, net of issuance costs,
would be appropriated to reduce the borrowing under the February 16, 2017 bond and bond
anticipation note (BAN) issuance. However, bond counsel and the Town were recently made aware
of some accounting differences in the calculation of premiums applied by both the bond and BAN
lenders that has resulted in a small amount of the funds being held for application to future bond
issuances for the same projects. This is a change in the mechanics for implementation, but the
principles of the Article remain the same.
A motion was made and seconded to support 2017 STM-1, Article 5 with the implementation
changes, as discussed. The motion passed. VOTE: 8-0
2.Report to 2017 Annual Town Meeting (ATM) on Financially Related Warrant Articles
It was agreed that the main report was substantially ready to go to the printer with the addition of
one vote to be incorporated (see below), some minor clarifications, and non-substantive “tweaking”.
A motion was made and seconded to accept the latest version of the draft report, with edits as
discussed. The motion passed. VOTE: 8-0
Updates were provided for the following ATM Articles:
Article 36: Amend General Bylaws—Municipal Modernization Act (MMA): The 2017
ATM Warrant proposes the acceptance of five local options under the MMA. All were
previously supported by this Committee, except for the local option under Chapter 41,
Section 111F, which allows appropriations into a Special Fund for Injured Police and
Firefighters, as to which additional information was sought. Mr. Bartenstein reported that
the Town Manager had explained that the Town has been making such appropriations for
several years. The MMA has essentially adopted this process for the entire State.
Acceptance of this element of the MMA will ensure that the Town’s continued practice
would be in compliance with State law.
A motion was made and seconded to support Chapter 41, Section 111F included in
Article 36. The motion passed. VOTE: 8-0
1
03/20/2017 AC Minutes
Article 16(b): Appropriate for Public Facilities Capital Projects:Facility and Site
Improvements:Ms. Basch noted that this section of the Article includes three elements that
will have one motion for approval unless a Capital Expenditures Committee’s request to
separate them into separate Motions is accepted by the Town Moderator, or alternatively, 25
people support voting on them separately. After discussion, this Committee agreed that it
did not have a position on the voting alternatives.
3.Town Meeting Protocol
Town Meeting procedures were reviewed, and there was a discussion about this Committee’s
speakers for the Articles.
4.Adjourn
The Committee adjourned at 7:15 p.m.
The documents used at the meeting are listed below.
Respectfully submitted,
Sara Arnold, Recording Secretary
Approved: April 5, 2017
Exhibits
Agenda, posted by John Bartenstein, Chair
2