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4 <br /> <br /> <br />Capital Improvement Program Committee <br />Minutes <br />February 2, 2017 <br /> <br />Use of Excess Bond Proceeds: <br /> <br />After consultation with the Treasurer/Tax Collector it was determined that projects directly <br />related to the Fire Station are permissible for immediate use with excess bond proceeds from the <br />Fire Department sub-station construction project. The CIP gave unanimous support to approve <br />the replacement of the generator in the amount of $50,000 and the upgrade of HVAC controls at <br />a cost of $30,000 at the main Fire Station. <br /> <br />The remainder of projects proposed to be funded within the constraints of the excess bond <br />proceeds identified two projects at the Police Station. The projects include the replacement of <br />the two-story addition roof for the sum of $30,000 and the reconstruction of the parking lot in the <br />amount of $144,000. <br /> <br />It is required that excess bond proceeds be appropriated by the end of this fiscal year. Therefore, <br />it was agreed an article would be placed on the May Special Town Meeting warrant to allow for <br />immediate use of said funding. Excess bond proceeds must be used for projects which may be <br />bonded for an equal/greater term than the original loan. <br /> <br />Motion made by Mr. Gottlieb to approve and recommend two articles for the FY17 May <br />Special Town Meeting warrant utilizing Surplus Bond Proceeds from the Fire Station <br />renovation project for Police Station repairs; roof replacement and parking lot <br />reconstruction as identified. <br />Motion seconded by Mr. Richardson. <br />VOTE: Unanimous. 5-0. <br /> <br />Roll Call Vote: <br /> Mr. Collins, yes Mr. Gottlieb, yes Mrs. Thayer, yes <br /> Mr. Gasior, yes Mr. Richardson, yes Opposed, none <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />