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SELECTMEN’S MEETING MONDAY, JANUARY 9, 2006 5:30 p.m.
In attendance: Marion V. McEttrick, Charles J. McCarthy, James G. Mullen, Jr., David A. Colton, Town Administrator and Paula Rizzi, Executive Secretary
The minutes of December 19, 2005 were accepted as amended.
The Board voted unanimously to approve a grant of location to Boston Edison to construct, and a location for, such a line of conduits and manholes to be located under Horton Place, northeasterly approximately 85 feet southeast of Pleasant Street, a distance of 5 feet, contingent upon the applicant securing a street opening permit prior to installation.
Webster Collins, 533 Harland Street, David Shea, 307 Highland Street, Jeffrey Grant, 27 Pleasant Street and Elizabeth O’Connor 27 Clifton Road addressed the Board regarding the proposed development of the Town Yard. Reverend George Welles addressed the Board regarding the upcoming community celebration of Reverend Dr. Martin Luther King.
Charles J. McCarthy moved, James G. Mullen, Jr. seconded and the Board voted unanimously that all action taken by the Town Treasurer in advertising for public sale of the $34,629,850 aggregate principal amount of a Bond Anticipation Note (School Bonds), No. R-1 dated January 20, 2006, payable January 19, 2007 (the”Note”) of the Town, issued in anticipation of bonds authorized pursuant to Chapter 44, Sections 7(3) and 7(3A) of the Massachusetts General Laws, as amended and supplemented, and by votes of the Town duly adopted under Article 1 of the Warrant at the Special Town Meeting held on June 19, 2000, and under Article 1 of the Warrant at the Special Town Meeting held on February 26, 2002, as further described in Exhibit A attached hereto which by reference thereto
is hereby incorporated in and made a part of this vote, be and hereby are ratified, confirmed, approved and adopted;
That the Note shall be dated as of January 20, 2006; shall mature on January 19, 2007, be in such form, of such denominations and contain such other details as the Town Treasurer and a majority of the Board of Selectmen shall determine or approve by their execution of the Note;
That the Note shall not be subject to redemption prior to its stated date of maturity;
That the Note shall originally be issued by means of a book-entry system evidencing ownership and transfer of the Note; and in the event of failure or termination of the book-entry system, The Bank of New York Trust Company, N.A., in Boston, Massachusetts, shall issue replacement notes in the form of fully registered certificates and shall act as Transfer Agent and Paying Agent therefor;
That the Note shall bear interest payable at maturity and is hereby sold and awarded as follows:
BOND ANTICIPATION NOTE
Purchaser Note No. Amount Interest Rate Premium
1ST Albany Capital, Inc. R-1 $34,629,850 4.25% $318,556.00
That the Town Treasurer be, and hereby is, authorized to execute and deliver a Material Events Disclosure Certificate generally as described in the official statement relating to the Note and to incorporate by reference thereto in the Note such Certificate both in such form as the signatories may approve by their execution thereof, and the obligation of the Town contained in such certificates is hereby approved and confirmed;
That the Board of Selectmen, the Treasurer and the Town Clerk be and hereby are, and each of them severally is, authorized to take such action, and to execute and deliver such certificates, receipts, or other documents as may be determined by them, or any of them, to be necessary or convenient to carry into effect the provisions of the foregoing Vote; and
That the Town Treasurer is hereby authorized to prepare and deliver the Note to the aforesaid purchaser or order against payment in full of the agreed purchase price.
Charles J. McCarthy moved, James G. Mullen, Jr. seconded and the Board voted unanimously that all action taken by the Town Treasurer in advertising for public sale of the $13,404,000 General Obligation Bonds (“the Bonds”) of the Town authorized under Chapter 44, Sections 7 and 16, of the Massachusetts General Laws, as amended and supplemented and by votes of the Town duly adopted as further described in Exhibit A attached hereto, which by reference thereto is hereby incorporated in and made a part of the minutes of this meeting and this vote, and, in that connection, preparing and distributing a Preliminary Official Statement and Notice of Sale and a final Official Statement, be and hereby is ratified, confirmed, approved and adopted;
That the Bonds shall be dated as of January 15, 2006, payable on January 15 in each of the years as follows: $874,000 in 2007, $860,000 in 2008 through 2010, inclusive, $685,000 in 2011 through 2013, inclusive $680,000 in 2014 and 2015, $625,000 in 2016 through 2019 inclusive, $620,000 in 2020, $570,000 in 2021 through 2025, inclusive and $565,000 in 2026.
That the Bonds shall be in the denomination of $5,000 or any authorized multiple thereof with one denomination of $4,000 of the Bonds that will mature in 2007, and shall be numbered consecutively; and subject to the provisions of this vote, the Bonds shall be in such form as the Treasurer and a majority of the Selectmen shall determine or approve by their execution of the Bonds;
That it is hereby determined, in accordance with the provisions of Chapter 44, section 7(9) of the General Laws, as amended, that any departmental equipment to be acquired with proceeds of the Bonds, will have a maximum useful life of 15 years;
That the Bonds shall be consolidated issue of the bonds as described in Exhibit A and shall mature as described in Exhibit B;
That the Bonds maturing January 15, 2007 through 2014, inclusive are not subject to redemption prior to their stated dates of maturity.
That the Bonds maturing on and after January 15, 2015 are subject to redemption prior to their stated dates of maturity, at the option of the Town on and after January 15, 2014, either in whole or in part at any time, and if in part, by lot within a maturity, at par plus accrued interest to the date set for redemption;
That the Bonds shall originally be issued by means of a book-entry system evidencing ownership and transfer of the Bonds; and in the event of failure or termination of the book-entry system, U.S. Bank National Association, Boston, Massachusetts, shall issue replacement bonds in the form of fully registered certificates and shall act as Bond Registrar and Transfer Agent and Paying Agent therefor;
That the Bonds maturing in each respective year shall bear interest payable on January 15 and July 15 in each year, commencing July 15, 2006, at the respective rates per annum as follows:
Principal Interest Principal Interest
Year Amount Rate Year Amount Rate
2007 $874,000 5.25% 2017 $625,000 4.00%
2008 860,000 3.75 2018 625,000 4.00
2009 860,000 3.75 2019 625,000 4.00
2010 860,000 3.75 2020 620,000 4.00
2011 685,000 3.625 2021 570,000 4.125
2012 685,000 3.625 2022 570,000 4.125
2013 685,000 4.00 2023 570,000 4.25
2014 680,000 5.00 2024 570,000 4.25
2015 680,000 4.00 2025 570,000 4.30
2016 625,000 4.00 2026 565,000 4.375
That the bid of UBS Financial Services Inc., to purchase the Bonds at a price of $13,404,012.12 and interest accrued to date of delivery, resulting in a net interest cost of $5,351,894.23 and a true interest rate of 4.116209%, being the best bid received for the Bonds, be and hereby is authorized to deliver the Bonds to the aforesaid purchaser or order against payment therefor;
That the Treasurer be, and hereby is, authorized to execute and deliver a continuing disclosure undertaking in compliance with SEC Rule 15c2-12 in such form as may be approved by bond council and as generally as described in the Official Statement relating to the Bonds and to incorporate by reference thereto in each Bond the form of such undertaking and the obligation of the Town contained in such undertaking, is hereby approved and confirmed; and
That the Bonds to be issued pursuant to this vote may be secured by insurance or be letter or lines of credit or other credit facilities in accordance with the provisions of Chapter 44, Section 22C, of the General Laws, as the Treasurer or Finance Director, as appropriate, shall determine, and the Board of Selectmen, the Treasurer and the Town Clerk be and hereby are, and each of them severally is, authorized to contract for and purchase, if necessary, any policy of municipal bond insurance with respect to the Bonds, and each such officer may take all such action, and execute and deliver such certificates, receipts, or other documents as may be determined by them, or any of them, to be necessary or convenient to carry into effect the provisions of the foregoing vote.”
Town Administrator David Colton presented a Fiscal Year 2007-2011 Strategic Plan including a five year financial forecast, an assessment of the Town’s performance, the financial challenges it faces, and proposed policy goals.
The five year financial forecast that was developed with the help of an Ad-Hoc Committee consisting of the Town Planner, the Superintendent of Schools, the Director of Libraries, the Director of Cemeteries, and Mr. Colton.
Police Chief Kevin Mearn made a presentation to the Board on Racial Profiling.
Charles J. McCarthy moved, James G. Mullen, Jr. seconded and the Board voted unanimously to approve and forward to the Personnel Board, the appointment of William L. Chen, 289 Granite Avenue, to the position of police officer with the Milton Police Department, contingent upon the successful completion of a medical, psychological and physical evaluation.
Charles J. McCarthy moved, James G. Mullen, Jr. seconded and the Board voted unanimously to support a proposal to upsize the currently designed generator at the Collicot Cunningham School to add shelter load at an approximate cost of $200,000 so that this school can be used as an emergency shelter for the Town and to approve the addition of this approximate amount to Article #1 of the February Special Town Meeting Warrant.
Marion V. McEttrick moved, James G. Mullen, Jr. seconded and the Board voted 2-1, with Marion V. McEttrick voting yes, James G. Mullen, Jr. voting yes, and Charles J. McCarthy voting no, to approve drafting an article for the Annual Town Meeting to request planning funds for the development of the Randolph Avenue corridor; to incorporate discussed changes into the Town Yard RFP and to forward it to Special Counsel Jon Witten and the Inspector General’s office for their review, and to develop an RFP for an alternative site for the Town Yard.
Charles J. McCarthy moved, James G. Mullen, Jr. seconded and the Board voted unanimously to accept a grant from the Massachusetts Board of Library Commissioners in the amount of $3,685,725 for the expansion and updating of the main library and to authorize the Town Administrator to execute all related documents.
Charles J. McCarthy moved, James G. Mullen, Jr. seconded and the Board voted unanimously to endorse the 2006 annual Revered Dr. Martin Luther King Community Celebration on Monday, January 16, 2006 and to acknowledge the collaborative efforts of ¥CelebrateMilton!, Citizens for a Diverse Milton, the Milton No Place for Hate Committee, Milton for Peace, the Milton Public and Parochial Schools and the Milton Interfaith Clergy Association, the Milton School Committee, the Milton Police Department and the Milton Business
Community.
Charles J. McCarthy moved, James G. Mullen, Jr. seconded and the Board voted unanimously to accept donations in the amount of $2,500 for the funding of the Turners Pond Handicap Pathway Project.
Charles J. McCarthy moved, James G. Mullen, Jr. seconded and the Board voted unanimously to approve and forward to the Warrant Committee a Reserve Fund Transfer Request in the amount of $10,866. to Unemployment Compensation.
Charles J. McCarthy moved, James G. Mullen, Jr. seconded and the Board voted
unanimously to approve and forward to the Warrant Committee a Reserve Fund Transfer Request in the amount of $10,475 to Selectmen’s E& R.
Charles J. McCarthy moved, James G. Mullen, Jr. seconded and the Board voted unanimously to approve the appointment of Ruth Heiden, 314 Eliot Street, to the Milton Village/Central Avenue Revitalization Committee through May 31, 2006.
Charles J. McCarthy moved, James G. Mullen, Jr. seconded and the Board voted unanimously to approve and sign a letter of appreciation to the Milton Amateur Gardeners for their continued hard work in beautifying the Town Office Building, Gazebo and the Police Station during the holidays.
Charles J. McCarthy moved, James G. Mullen, Jr. seconded and the Board voted unanimously to approve the request of the School Building Committee to display temporary construction signs at 80 Edge Hill Road in front of the Collicot Cunningham construction site.
James G. Mullen, Jr. moved, Charles J. McCarthy seconded and the Board voted unanimously to authorize the Chairman to represent the Board and vote on its behalf at the upcoming Massachusetts Municipal Association Conference on January 13 and 14, 2006.
Charles J. McCarthy moved, James G. Mullen, Jr. seconded and the Board voted unanimously to approve the inclusion of a home rule petition warrant article in the Annual Town Meeting warrant relating to a liquor license for a restaurant at 556 Adams Street (presently Java Jo’s Coffee House).
Mr. McCarthy requested that a discussion on the Municipal Benchmark Report be scheduled for the next meeting.
The Board confirmed future meeting dates as follows: Monday, January 23, Monday, February 6, and Tuesday, February 21, 2006.
Charles J. McCarthy moved, James G. Mullen, Jr. seconded and the Board voted unanimously at 9:30 p.m. to adjourn.
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