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-BOARD 0 F SELEO. TMEN Page 5 <br /> MINUTES <br /> MONDAY JUNE 3P 1991 <br /> 1921 Beach Operation: <br /> Selectman. Jacobson. asked if the gate attendants at South Cape <br /> Beach will have police radios f' Frye stated they will. <br /> Ir. Driscoll informs the Board they are still working on the <br /> details pertaining to a joint gate attendant at Waquoit Bay. He will <br /> discuss this wlith the Executive Secretary before making a. decision, <br /> A federally funded person will be covering the gates five days with two <br /> others to Fill the gap. <br /> The Board is informed by Counsel there is no liability to the Town <br /> since there are signs posted on the, beach areas regarding no l.ifegukard <br /> or supervisory personnel. <br /> With concerns of the swim r pez at Atta uin Park, Selectman Gottlieb <br /> suggests spea.ding the markers to act as a. physical barrier to block use <br /> f the beach. There are new inflatable buoys stated Mr. Driscoll to <br /> create a buffer zone. <br /> Selectman Jacobson has concerns of boats on the beach. selectman <br /> Gottlieb stated the Town bylaw prohibits enterance of boats into <br /> swim area. <br /> The Chairman made note by vote of the Board of Selectmen, there <br /> will be no boats on the beach. Since the Harbormaster was not available, <br /> this will be discussed in depth on the meetink of June 17, 1991. <br /> 7:50 0 p. . Execution of Contracts for BankinaServices: <br /> Arne Shaw informed the Board the three year contract with US Trust <br /> ends in June. She has recieved s bids and has obtained the best rates <br /> with Sandwich Co-op. Plymouth Savings will remain cashing the checks for <br /> all employee l s. <br /> She explains the funds are safe since there is third party collateral- <br /> ization <br /> ollateral-.i a.tion over $100, 000. What this means explains Counsel is Ma.shpee holds <br /> the collateral with the bank in agreement to post the third party <br /> collateral. The bark earns the interest over $100, 000. <br /> There has to be a minimum balance of $359, 500 compensation explains <br /> Ms. Shaw. Mr. Reardon noted that Ives. Shaver has dome a. great job in <br /> protecting the interest of the Tov,n. <br /> Selectman Gottlieb asks hove long a contract and if there is -an out <br /> clause? The contract is three gears explains Ms. Shaer and there is an <br /> out clause. She would like to get this operational by July 1, 1991 and <br /> notes after she signs the agreement with the Board of selectmen., the <br /> Department of Revenue has to approve the agreement. <br /> Selectman Caf f n will abstain from voting until she' s reviewed this <br /> further. <br /> Although Selectman Gottlieb would have liked to review the material, <br /> over the weekend with his informational ational packet, he has made the motion <br /> to execute the contract for banking services. The motion was seconded <br /> by Selectman Lawrence. The vote is favorable 3-1 with Selectman Caffyn <br /> abstaining. <br /> Chairman Jacobson noted Ms. Sha.w had the in 'cmation ready for the <br /> Baord' s review, but it was not placed into their informational packet <br /> on Friday, <br />