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4 <br /> Capital Improvement Committee <br /> Minutes <br /> November 30, 1999 <br /> Financial Overview: <br /> It was noted that in 1932, the fiscal policy advisory report recommended <br /> that the debt not exceed 18% of the total budget. The long-range five-year <br /> financial plan developed thereafter recommended that debt levels consume <br /> J -1 %ofthe operating budget. <br /> To maintain a steady investment in infrastructure, the Committee <br /> considered a debt percentage range of 1 —1 . Potential long and short- <br /> term debt issues were discussed. The Committee agreed that it is essential <br /> to establish guidelines for non-capital and bonded debt service in addition <br /> to forecasting future debt issues. <br /> Mr. Whritenour was requested to remit correspondence to the Board of <br /> Selectmen and Finance Committee in request of input to the general <br /> government infrastructure planning process on behalf of the CI <br /> Committee. <br /> Next Scheduled he <br /> Wednesday,December 8, 1999 . <br /> 3:00 p.m. <br /> Town Hall, Conference Room #2 <br /> AdJ o rnment: <br /> Motion made by Mrs. DeFoe to adjourn at 4:03 p.m. <br /> Motion seconded by Mr.Przybyle . <br /> VOTE: Unanimous. <br /> Respectfully submitted, <br /> Kathleen M. Soares <br /> Board Secretary <br />