HomeMy WebLinkAbout2020-10-14-CEC-min JS�®pN�N
Minutes of the
�3 Lexington Capital Expenditures Committee (CEC) Meeting
October 14, 2020
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Location and Time: Remote Meeting; 7:00 P.M.
Members Present (remote participation): Charles Lamb, Chair; David Kanter, Vice-Chair
& Clerk; Sandy Beebee; Rod Cole; Wendy Manz, and Frank Smith
Members Absent: None
Others Present (remote participation): None
Documents Presented:
• Notice of CEC Meeting, October 14, 2020
• "Strawman" Version of Committee's Supplemental Report to the Special Town
Meeting (STM) 2020-3, Article 7, Land Acquisition, prepared by Mr. Kanter,
October 13, 2020 (Report)
• Mr. Kanter's Alternative Text for that Report, October 14, 2020
• Draft #3 CEC Meeting Minutes, October 8, 2020 (Budget Summit 1)
Call to Order
Mr. Lamb called this Remote (Virtual) Meeting, which had been posted as such, to order at
7:02 P.M. He asked Mr. Kanter to read what granted permission to hold such a virtual
meeting.
Mr. Kanter reported that the requirement to have a physical presence of a quorum had been
suspended in an Executive Order by Massachusetts Governor Charles D. Baker, on
March 12, 2020, after having proclaimed, on March 10, 2020, a STATE OF EMERGENCY in
the Commonwealth due to the outbreak of the 2019 novel coronavirus, known as
"COVID-19".
Mr. Kanter further reported that the documents for this meeting had been provided
electronically to the Committee, and would be available upon request, were those listed as
Documents Presented. Any votes during this meeting Notice/Agenda for this meeting would
be taken by a roll call. This meeting is being recorded to assist in preparing Minutes and they
would be deleted once the Minutes were approved.
Mr. Lamb took a roll-call vote and confirmed that all six Committee members were remotely
participating. Mr. Lamb asked Mr. Kanter to take the lead for the rest of this meeting.
Discussion of the Supplemental Report to the STM 2020-3
Mr. Kanter led the extended discussion of the "Strawman" report and his proposed alternative
text that eliminated some bulleted text and adding others. There was a consensus that the
alternative was supported once one clause was added to clarify the purpose and intent of the
opening sentence of the last of the bulleted text and that Mr. Kanter would work with
Ms. Manz regarding her proposed editorial-only changes.
Mr. Kanter Moved, and it was seconded, that the Committee approve the resulting
Supplemental Report to the STM 2020-3 addressing its Article 7. Roll-Call Vote: 6-0
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Minutes of the Lexington Capital Expenditures Committee (CEC) Meeting
October 14, 2020
Member Concerns and Liaison Reports
Mr. Kanter reported on the Community Preservation Committee's (CPC's) meeting that he
attended the previous afternoon as Ms. Manz was not able to attend.
• The CPC supported Article 7 and the majority of the rest of its meeting related to the
$1,000,000 of the total funding that would be debt financed by using Bond Anticipation
Notes (BANs) and/or a bond.
• Ms. Carolyn Kosnoff, Assistant Town Manager for Finance, was present and
described those alternatives for the debt financing.
• Mr. Kanter advised the CPC that his strongly held position was only to use BANs and
that the CPC should focus on paying off any BAN(s) as soon as practical.
• Ms. Kosnoff pointed out that the Motion under Article 7 would only cite that $1,000,000
of the total would be debt financed so it would not dictate what instrument(s) would be
used. No CPC position was taken at that meeting as to what its recommendation
would be to Town Meeting.
• This Committee noted that in its just unanimously approved Supplemental Report
explicitly cites that its position is the same as Mr. Kanter's. It was agreed the
Committee's position would be reported to both the CPC and Ms. Kosnoff.
Approval of Minutes
• A Motion was made and seconded to approve the Draft #3 CEC Meeting Minutes,
October 8, 2020 (Budget Summit 1) as presented. Roll-Call Vote: 6-0
Adjourn
A Motion was made and seconded at 7:25 P.M. to adjourn. Roll-Call Vote: 6-0
This Minutes was approved by the CEC at its meeting on November 13, 2020.
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