10/16/2017 Annual Town Meeting - Laserfiche WebLink

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the premium received by the Town upon the sale of any bonds or notes thereunder, less the costs of preparing, issuing and marketing such bonds or notes, may be applied to pay project costs and the amount authorized to be borrowed for each such project shall be reduced by the amount of any such premium so applied, or take any other action relating thereto. Submitted by the Town Treasurer Explanation: This article is needed to amend bonding authorization articles that were approved prior to passage of the Municipal Modernization Act in August 2016, so the premiums received upon the sale of such bonds may be applied to the costs of the project being financed and to reduce the amounts authorized to be borrowed by the applied amount. The Board of Selectmen recommends Town Meeting approval by a vote of 5-0. The Finance Committee recommends Town Meeting approval by a vote of 5-0. Motion made by Selectman John Cotton. Motion: I move the Town vote to amend and supplement each prior vote of the Town that authorized the borrowing of money to pay capital project costs to provide that, in accordance with Chapter 44, Section 20 of the General Laws, as amended by the Acts of 2016, c.218, § 67, the premium received by the Town upon the sale of any bonds or notes thereunder, less the costs of preparing, issuing and marketing such bonds or notes, may be applied to pay project costs and the amount authorized to be borrowed for each such project shall be reduced by the amount of any such premium so applied. Motion passes unanimously at 7:23 PM. Article 3 To see if the Town will vote to transfer $325,000 from the Assessors Overlay Surplus Account to the Assessors Revaluation Account, or take any other action relating thereto. Submitted by the Town Assessor Explanation: To transfer existing monies to fund the Assessor's Revaluation Account for costs related to meeting the Department of Revenue's annual and triennial certification requirements. All towns are required by the D.O.R. to maintain a revaluation account for costs relating to valuation consultants, Appellate Tax Board expenses, private appraisals, defense of values and various other requirements to ensure accurate assessments and timely issuance of tax bills. The Board of Selectmen recommends Town Meeting approval by a vote of 5-0. The Finance Committee recommends Town Meeting approval by a vote of 5-0. Motion may by Selectman Carol Sherman. 2