Town of Princeton, Mass. – Aug. 16, 2016 – 5 PM
BOARD OF SELECTMEN – Regular Meeting Minutes
Chairman Stan Moss, Edith Morgan and Jon Fudeman present along with T.A. Nina Nazarian and residents.
5:00 PM Stan opened meeting, and stated that the meeting was being recorded.
5:01 PM Jon joined the meeting. The Board discussed the draft Special Town Meeting ballot question.
George Handy asked why the General Obligation Bond for broadband (Fiber to the Home) was not being set up as exempt debt. Nina said that she would review the subject and provide the Board with the pros and cons on this subject at the next meeting. The Board voted 3-0 on a motion by Jon, second by Stan to approve the ballot question.
Jon asked about the other upcoming major capital projects (Bagg Hall renovations, Princeton Center needs, and Public Safety needs). Stan mentioned that the bond rating should not be effected if the tax is exempt.
Stan reviewed the September 13th Special Town Meeting warrant in brief, then began describing that the question has come up that the MBI grant could be applied to the $1.2 million, if permitted by MBI. Edie stated that the MBI funds should get applied to the make-ready borrowing and then suggested that the balance of $300,000 be paid off in 3 years. Jon said that it was a key point that the MLP would put the MBI grant towards the $1.2 million borrowing. Jon mentioned the breakeven number calculations for the proposed borrowing, then mentioned a question of whether or not MBI still has funds for communities. Each member said that they would be in favor of the MBI grant being applied to the make-ready borrowing.
Kathy Conway asked if it was guaranteed that we would get the MBI grant. Marty indicated that we have been told that it has been earmarked. There was considerable discussion on this subject. Chris Lynch said that the last document he had seen showed Princeton as obtaining roughly $850,000, not the $900,000+ that has been discussed.
Some discussion around the citizen’s petition took place. Nina presented 3 pieces of correspondence, all regarding broadband.
5:45 PM Board voted 3-0 on a motion by Jon, second by Edie to adjourn.
Respectfully submitted, Nina Nazarian, Town Administrator
BOS Referenced Documents: Ballot question for September 22nd Special Town Election;
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