HomeMy WebLinkAbout1999-05-04 Board of Selectmen Minutes BOARD OF SELECTMEN MINUTES MAY 4, 1999
CALL TO ORDER: Keith Mitchell called the meeting to order at 6:00 p.m.
ATTENDANCE: The following were present: Keith A. Mitchell, Chairman;
John R. Leeman, Jr.; Donald B. Stewart; James M. Xenakis; Robert J. Halpin, Town Manager.
MOTIONS:
John Leeman made a MOTION, seconded by Donald Stewart,to permit the Board of Selectmen
to seek voter approval to assess an additional $790,000 in property taxes in North Andover in
Fiscal Year 2000 in excess of the amount allowed pursuant to Chapter 59, Section 21 C of the
General Laws in accordance with paragraph(g) of said Section 21C; vote approved 4— 0.
Form of Question:
• "Shall the town of North Andover be allowed to assess an additional $790,000 in real estate
and personal property taxes for the purpose of EDUCATIONAL STAFF AND PROGRAMS
AND RELATED EXPENSES IN THE NORTH ANDOVER PUBLIC SCHOOLS for the
fiscal year beginning July first,nineteen hundred and ninety-nine."
Majority vote required.
John Leeman made a MOTION, seconded by James Xenakis,to permit the Board of Selectmen to
seek voter approval to assess an additional $402,000 in property taxes in North Andover in Fiscal
Year 2000 in excess of the amount allowed pursuant to Chapter 59, Section 21 C of the General
Laws in accordance with paragraph(g) of said Section 21C; vote approved 4— 0.
Form of Question:
• "Shall the town of North Andover be allowed to assess an additional $402,000 real estate and
personal property taxes for the purpose of EMERGENCY MEDICAL SERVICES AND
RELATED EXPENSES IN THE FIRE DEPARTMENT for the fiscal year beginning July
first, nineteen hundred and ninety-nine."
Majority vote required.
John Leeman made a MOTION, seconded by Donald Stewart,to permit the Board of Selectmen
to seek voter approval to assess an additional $348,500 in property taxes in North Andover in
Fiscal Year 2000 in excess of the amount allowed pursuant to Chapter 59, Section 21 C of the
General Laws in accordance with paragraph(i '/2)of said Section 21 C; vote approved 4— 0.
Form of Question:
• "Shall the town of North Andover be allowed to assess an additional $348,500 real estate and
personal property taxes for the purpose of CAPITAL OUTLAY EXPENDITURES TO
CONSTRUCT YOUTH ATHLETIC FACILITES for the fiscal year beginning July first,
nineteen hundred and ninety-nine."
Two-thirds vote required(i.e.. 4 out of 5 Selectmen)
Board of Selectmen Minutes May 4, 1999 Page 2
The Board of Selectmen voted:
1. That the Town shall issue a bond or bonds in an aggregate principal amount not to exceed
$1,339,292 (the "Bonds")pursuant to Chapters 29C and 44 of the General Laws and
votes of the Town passed May 4, 1993 (Article 7), May 2, 1994 (Article 9), and
May 7, 1996 (Article 9), for construction of sewers and other water pollution control
facilities (the "Project");
2. that in anticipation of the issuance of the Bonds,the Treasurer is authorized to issue an
interim loan note or note (the "Notes") from time to time in an aggregate principal
amount not to exceed$1,326,568;
3. that each Bond or Note shall be issued as a single registered security, and sold to the
Massachusetts Water Pollution Abatement Trust(the "Trust")at a price of not less than
the principal amount of the Bond or Note, less the Town's allocated share of the costs of
issuance of the Trust's bonds;
4. that the Treasurer is authorized to determine the date,the form,the maximum interest rate
and the principal maturities of each Bond and Note, and to execute a Loan Agreement
with the Trust with respect to the sale of the Bonds and Notes, such date, form and
maturities and the specific interest rate or rates of the Bonds and Notes to be approved by
a majority of the Board of Selectmen and the Treasurer and evidenced by their execution
of the Bonds or Notes;
5. that all action taken to date by the Town and its officers and agents to carry out the
Project and its financing, including the execution of any loan commitment or agreement
by the Treasurer, are hereby ratified, approved and confirmed; and
6. that the Treasurer and the other appropriate Town officials are each hereby authorized to
take any and all actions necessary and convenient to carry out the provisions of this vote,
including execution and delivery of the Loan Agreement and the Project Regulartory
Agreement relating to the Project.
ADJOURNMENT:
The meeting was adjourned at 7:00 p.m.
Robert J. Halpin
Town Manager John R. Leeman, Jr., Clerk of the Board