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3 <br /> Capital Improvement Program Cornrm*t ee <br /> Minutes <br /> January 2 , 2012 <br /> Review of FY2013 Capital Projects: <br /> Additional-pro ects were given Tier 1 priority using other funding sources: <br /> Tier 1 <br /> MaLh ee.Cable-&Advanced Technology, Fundn <br /> IT—Microsoft Office 201 [upgrade $309550 <br /> IT—VMware Servers & Server Racks $27,000 <br /> School—Data Servers $309000 <br /> Ambulance Receipts/Borrowing Authorization:. <br /> r <br /> Fire—Rescue Pumper $500!X0 <br /> separate Town Meeting article would be considered to fund the Rescue Pumper <br /> through a five-year borro ng authorization with the debt service to be paid for <br /> through the Ambulance Receipts Account, Year 41 of the outstanding principal <br /> and interest$117,,500 would be transferred at Town Meeting to pa tthe debt <br /> service at the projected interest rate of$3.50%. <br /> Borrowing_Authorization Grant Funding <br /> Police—Purnp-out Boat $84po <br /> separate Town Meeting article is under consideration to fund the purchase of a <br /> Fop-out Boat contingent u the approval grant�ding. If pro ,the <br /> Town would receive 7 %of the cost-of a new boat through grant fundi The <br /> remainder, approximately $14,000 would be funding from the Pump-out Account, <br /> a Mate reimbursed(self-funded)program fo.r the operation of a boat pump-out <br /> facility for the disposal of waste on the waters. The net cost to the Town would <br /> be $0.00. <br /> Debt Schedule Summ <br /> It was agreed the Town Accountant would provide an updated Debt Schedule <br /> summary to the CIP Committee. <br />