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Selectmen’s Meeting Minutes
November 7, 2007
Present: James Armstrong, Jesse McSweeney, James Egan and Christopher Colclough. Also present Town Administrator Michael Finglas and Executive Assistant Meredith Marini
9:15 a.m. Also present was Treasurer/Collector Jeanne Sullivan and Town Clerk Sandra Harris for the vote and execution of bond documents for the Police Station.
MOTION by Colclough, second by Armstrong that the sale of the $5,482,000 Municipal Purpose Loan of 2007 Bonds of the Town dated November 15, 2007, to Eastern Bank at the price of $5,572,319.64 and accrued interest is hereby confirmed. The bonds shall be payable on November 15 of the years and in the principal or mandatory redemption payment amounts and bear interest at the respective rates, as follows,~subject to earlier redemption at the option of the Town as provided in the Preliminary Official Statement dated October 23, 2007:
Year |
Amount |
Interest Rate |
Year |
Amount |
Interest Rate
|
2008 |
$337,000 |
4.00% |
2017 |
$325,000 |
5.00% |
2009 |
335,000 |
4.00 |
2018 |
275,000 |
4.00 |
2010 |
335,000 |
4.00 |
2019 |
275,000 |
4.00 |
2011 |
335,000 |
3.75 |
2020 |
275,000 |
4.00 |
2012 |
335,000 |
3.60 |
2021 |
275,000 |
4.00 |
2013 |
335,000 |
3.75 |
2022 |
270,000 |
4.00 |
2014 |
330,000 |
3.75 |
2023 |
270,000 |
4.00 |
2015 |
330,000 |
4.00 |
2024 |
270,000 |
4.00 |
2016 |
330,000 |
5.00 |
2025 |
245,000 |
4.00 |
and further to confirm the provisions of the Bond Purchase Agreement dated November 5, 2007, including the consent to the purchase of the bonds by Eastern Bank on a negotiated basis.
Voted 4 – 0.
One Day Liquor licenses – Two requests for one day liquor licenses were received.
Nicole Bracketts of Middleboro for Saturday, November 10, 2007 from 7:00 p.m. to 12:00 a.m. for a surprise party.
Keith Sweeney of Hanson for Sunday, November 11, 2007 from 7:00 p.m. to 12:00 a.m. for a football party.
MOTION by Armstrong, second by Colclough to approve the one day liquor licenses as presented. Voted 4 – 0
Meeting November 13th – The Board discussed the upcoming meeting. There is no business on the agenda as all the paper work for the Bond has been signed today. By consensus the Board agreed to cancel the meeting posted for November 13, 2007 the next regularly scheduled meeting is November 27, 2007.
MOTION by McSweeney, second by Armstrong to adjourn. Voted 4 – 0
9:30 a.m. Meeting Adjourned.
Respectfully submitted,
Meredith Marini
Executive Assistant
Approved and Voted 4 – 0
Nov. 27, 2007
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