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L Treasurer, with the approval of the Selectmen, be authorized to borrow $55,000 or any other sum under and pursuant to Chapter 44, Sections 7 and 8C and, if applicable, Chapter 40, section 8C of the General laws, or any other enabling authority, and to issue bonds or notes of the Town therefor; with said borrowing to be repaid with funds from the Land Bank Fund established by the Town under the provisions of Chapter 293 of the Acts of 1998 (An Act Relative to the Establishment of the Cape Cod Open Space Land Acquisition Program); and to designate said land as an open space land acquisition pursuant to said Chapter 293; and further, to see if the Town will vote to raise and appropriate or transfer from available funds $500 to the Issuance of Debt Account; and further, to see if the Town will authorize the Board of Selectmen to enter into contracts or agreements with Federal, State and / or County agencies, private conservation trusts or other entities or persons in connection with the purchase of such land and its preservation for conservation or recreation purposes, including enforcement of conservation restrictions on the land; and finally, to see if the Town will authorize the Board of Selectmen to enter into agreements and execute any and all instruments as may be necessary on behalf of the Town to effectuate said acquisition, sale, transfer or preservation; or take any other action relating thereto. Submitted by the Open Space Committee Explanation: This article would authorize the Board of Selectmen to purchase a 2.2 acre parcel of land on Meetinghouse Road adjacent to existing Town land for recreation purposes in conjunction with a potential future school site or, if said school is not developed, for conservation purposes. The parcel is under threat of development, is in the recharge area of the Mashpee River and is recommended for acquisition by the Comprehensive Plan. The land would be paid for with Land Bank funds. Motion made by Selectman Taylor. Motion: I move the Town hereby authorize the Selectmen to acquire, by purchase or otherwise, for conservation or recreation purposes, that parcel of land identified on the 1999 Mashpee Assessors' Maps as Map 36, Block 31, located at 42 Meetinghouse Road; that the sum of $55,000 is hereby appropriated for such purpose, including expenses incidental and related thereto, and that to raise such appropriation, the Treasurer, with the approval of the Selectmen, is hereby authorized to borrow $55,000 under and pursuant to Chapter 44, Sections 7(3) or any other enabling authority, and to issue bonds or notes of the Town therefor; that while any borrowing authorized hereunder shall constitute a general obligation of the Town, it is expected that all but one dollar ($1.00) of said borrowing shall be repaid with funds from the Land Bank Fund established by the Town under the provisions of Chapter 293 of the Acts of 1998 (An Act Relative to the Establishment of the Cape Cod Open Space Land Acquisition Program); that the Town hereby appropriates the additional sum of $500 from the Land Bank Account to the Issuance of Debt Account; that the Board of Selectmen is hereby authorized to enter into contracts or agreements with Federal, State and/or County agencies, private conservation trusts or other entities or persons in connection with the purchase of such land and its preservation for conservation or recreation purposes, including enforcement of conservation restrictions on the land; and finally, that the Board of Selectmen is hereby authorized to enter into agreements and execute any and all instruments as may be necessary on behalf of the Town to effectuate said acquisition, sale, transfer or preservation. Motion made to dispense with reading of Article 27 made at 9:16 p.m. C�