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SELECTMEN’S MEETING WEDNESDAY, AUGUST 15, 2007 7:00 P.M.
pose bonds for the following expenses: enhancement of the Town’s surface drains; the purchase of a fire rescue pumper truck; new 911 emergency call system; Library design plans.
John M. Shields moved, Kathryn A. Fagan seconded and the Board voted unanimously that all action taken by the Town Treasurer in advertising for public sale of the $2,191,000 General Obligation Municipal Purpose Loan of 2007 Bonds (the "Bonds") of the Town authorized under Chapterhin 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, or any duly appointed successor thereto, shall issue replacement bonds in the form of fully registered certificates and shall act as Bond Registrar, Transfer Agent and Paying Agent, therefor;
That the Bonds of this issue maturing on August 15, 2022 and August 15, 2027 (the “Term Bonds”), unless called for earlier redemption as provided above, shall be retired in part prior to maturity by mandatory serial redemptions in the principal amounts specified below, at a price equal to the principal amount to be redeemed (without premium) plus accrued interest to the redemption date:
p;
$85,000
August 15, 2019
nt-size:8pt;color:#000000;">
75,000
August 16, 2026
face="Geneva" size="+0" color="#000000" style="font-family:Geneva;font-size:8pt;color:#000000;">Principal
Amount
Interest
Rate
Year
>000;">
120,000
4.25
2010
160,000
4.25
2016
120,000
4.25
2011
155,000
4.25
2017
120,000
4.25
2012
155,000
4.00
2022
425,000
4.20
2013
120,000
4.00
2027
375,000
4.30
yle="font-family:Geneva;font-size:8pt;color:#000000;">eeds of the Bonds will each have a maximum useful life of at least 10 years;
That the Bonds are a consolidated issue of the bonds described in Exhibit A and shall mature as described in Exhibit B attached hereto which by reference thereto is hereby incorporated in and made a part of the minutes of this meeting and this vote;
That the Bonds maturing in the years 2008 through 2015, inclusive, shall not be subject to redemption prior to their stated dates of maturity;
That the Bonds maturing on and after August 15, 2016 shall be subject to redemption prior to maturity, at the option of the Town, on and after Augustlor="#000000" style="font-family:Geneva;font-size:8pt;color:#000000;">
Principal Amount
Geneva" size="+0" color="#000000" style="font-family:Geneva;font-size:8pt;color:#000000;">85,000
August 15, 2022 (maturity)
" size="+0" color="#000000" style="font-family:Geneva;font-size:8pt;color:#000000;">d on the following August 15;
e="font-family:Geneva;font-size:8pt;color:#000000;">
160,000
4.25
2015
120,000
4.25
2010
160,000
4.25
2016
120,000
4.25
2011
155,000
4.25
2017
120,000
4.25
2012
155,000
4.00
2022
425,000
4.20
2013
120,000
4.00
2027
375,000
4.30
her credit facilities in accordance with the provisions of Chapter 44, Section 22C, of the General Laws, as the Town Treasurer shall determine, and the Board of Selectmen, the Town 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."
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