MINUTES
BOARD OF SELECTMEN
May 17, 2005
Present at the meeting that was held at the Hale Middle School Library were Chairman John Clayton and Selectmen, Carole Makary, Edward R. Perry Jr., and Janet Wheeler.
Also present were Town Administrator William Wrigley and Administrative Assistant Susan Flint Hosier. Selectman Kathleen Farrell was absent.
Chairman Clayton called the meeting to order at 6:30 p.m.
Special Beer and Wine License Approval
Board members approved and signed a one-day beer and wine license for the annual SpringFest Dance scheduled for May 21.
Refunding Approval for Hale School Bond
Treasurer Carol Vogel requested that the Board approve issuing refunding bonds to reduce interest costs on the Hale School debt. Eastern Bank, the Town’s financial advisor, recommends this when savings are from 3 to 5 percent; at this time, Stow could save 6.6 percent, or $10,000 to $12,000 per year.
Ms. Makary moved to pursue advance refunding of the Hale School Bond, Mr. Perry seconded, and all voted in favor. Members then signed the certification of the vote for Ms. Vogel, authorizing her to proceed.
A second vote, on whether to accept the terms offered by Eastern Bank, was tentatively scheduled for the next regular Board meeting.
Selectmen’s Representative for June 11 Eagle Scout Ceremony
Ms. Makary volunteered to be the Board’s representative to the Eagle Scout Ceremony on June 11. She was provided with letters from the Board for four new Eagle Scouts.
The meeting was adjourned at 6:45 p.m.
Respectfully submitted,
Susan Flint Hosier
Administrative Assistant
Board of Selectmen
| 
