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TENTH MEETING WARRANT COMMITTEE OCTOBER 17, 2005
PRESENT: K. Conlon, T. Lowney, D. Biagiotti, J. Conley, W. Connors, H. Crichlow, L. Dee, N. Gray, T. Hurley, S. Keel, B. Mason, J. O’Connor, L.J, Walker, C. Winston.
ABSENT: P. Nolan
RESERVE FUND BALANCE: $387,946
Chair Conlon called the meeting to order at Milton High School at 6:00 p.m. prior to the Special Town Meeting.
Secretary Lowney moved to reconsider Article 9 - Citizen Petition - Supplemental Appropriation - School Building Project for the purpose of correcting a technical mistake in the recommendation. . Member Mason seconded the motion. The Committee voted 11-0-0 to reopen Article 9. Secretary Lowney moved to recommend that no appropriation be made, and Member Mason seconded the motion. The Committee voted 11-0-0 to recommend that no appropriation be made under Article 9.
The Committee received a $275 voucher payable to the Association of Town Finance Committees for five Warrant Committee members to attend the Annual ATFC Conference. Secretary Lowney moved to approve the payment and Member Mason seconded the motion. The Committee voted 11-0-0 to approve the payment of $275 to the Association of Town Finance Committee.
The School Committee, the Board of Selectmen, the Town Administrator and the Assistant Town Administrator joined the Warrant Committee for a discussion with Treasurer Kevin Sorgi and the Town’s bond consultants, Lisa Dickinson and Susan Daubney of UniBank Fiscal Advisory Services, regarding borrowing issues relating to Article 7. There was a general discussion of a question that had arisen over the weekend as to whether the $3,000,000 under-the-levy-limit borrowing authorization that the Warrant Committee would recommend to Town Meeting would ever be used because, due to changes to the State’s reimbursement policy and the State’s early payment of a significant portion of the school building costs, the existing (over-the-levy-linit) borrowing authorization for the project will not be fully used. Ms. Dickinson advised the Committee and those in attendance of a discussion that she had today with representatives of the Massachusetts Department of Revenue at the Town’s request. The
DOR had informed Ms. Dickinson that other towns had raised similar issues due to increased construction costs. Ms. Dickinson was told that the Town could request a DE-2 conference with the DOR and that, in light of the inflationary effect that Hurricane Katrina was having on the prices of raw materials used in construction projects, the DOR would be inclined to rule favorably on a request by the Town for the additional $3,000,000 for the school building project to be considered under the umbrella of the exempt borrowing. Ms. Dickinson answered questions raised by the Warrant Committee, the School Committee and the Selectmen. There was also a brief discussion of the potential for additional borrowing for a gymnasium for the Collicot School.
The meeting adjourned at 715 pm in order that the Warrant Committee could attend the Special Town Meeting..
RESERVE FUND BALANCE: $387,946
Respectfully submitted,
Carol A. Blute, Clerk
November 9, 2005
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