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4 F <br /> -( <br /> 1' <br /> .. .. <br /> c' <br /> of <br /> ANCANCE COMMITTEE <br /> FINANCE COMMITTEE MINUTES <br /> Town Nall <br /> April 23 , 1986 <br /> Present : Finance Committee members , Frederic Blythe , Carl <br /> Heller , Joyce Howell , ' Lou Hronek , Elizabeth Terry , <br /> and T wn Accountant , Vern Polka . <br /> "The Finance Committee convened at 6 p . m . The meeting was <br /> 3oined by Executive Secretary , Joseph Murphy ; Selectmen , Thomas <br /> and Hanson ; Town Treasurer , Anne Shaw ; Superintendent of Schools , <br /> Dr . Nicholson ; and members of the School Building Committee . <br /> This meeting was called to discuss the Article on the Annual <br /> Town Meeting Warrant for $293 , 900 for architectural fees and <br /> i <br /> also to discuss the overall construction costs of the new <br /> school building . <br /> Chairman Blythe .explained that as Article # 9 was written , <br /> it requested $293 , 900 in architectural fees to be appropriated from <br /> town budget , The Finance Committee explained to the Building <br /> Committee that they did not have the funds . <br /> The Finance Committee recommended that Article #79 be <br /> indefinitely postponed . It was agreed that the Article would <br /> be rewritten and included in o Special Town Meeting Warrant t <br /> be held on the 12th or 19th of May . The deadline for Articles <br /> for the Special Town Meeting is April 24th , and the Selectmen <br /> agreed to see that this new article would be on the Warrant . <br /> The Article as written in the Special Warrant would allow the <br /> town more flexibility and would allow the town to borrow the <br /> funds . Joe Murphy noted that the School Building Committee has <br /> $35 , 000 in-hand and if the town was to borrow the money it would <br /> be available immediately . He also noted that to tie the <br /> architectural fees to a 21 exemption would delay the project <br /> considerably . <br /> The Executive Secretary noted that it is quite common to <br /> reduce the architectural fees by the amount that is required <br /> for contract administration . This- would be the money for on <br /> site work during construction . This would be 20% of the <br /> total architectural fee or $65 , 000 . It was agreed that the <br /> School Building Committee would seek approval to bond the <br /> architectural. Tee minus the $65 , 000 for contract administration . <br /> a <br />