03/06/1972 Annual Town Meeting - Laserfiche WebLink

Home Browse Search

i it Page 21 j Annual Town Meeting ?March b , 1972 Article 24 continued : Aiken speaking. It is like a savings versus a checking account. The stabilization J i is drawing interest. We will never put it back . We had such an awful time getting it. l Amelia Miller : Instead of $130, 000, we have $170,000 in the stabilization fund . Is it legal to take it out for this purpose? Torn Counsel : Off the top of the head - it ;could seem so . K. D. O' Connell : We are trying to hold the tax rate down and gave you what you want . We can borrow from the stabilization fund . The one thing this `town is proud of - the low tax rate - is going right out of the window. Moderator Mills : Could this be brought up at a special town meet- ing later on and taken from free cash? Answer from Fin. Com. : This free cash which is presently in the bank credited to the Town will not be available until after Decem- ber 31st 1972 as it did not get recorded and deposited until after December 31st of last year. Town. Counsel here interposed to say lie had been looking it up and saw nothing in statutes which would allow for the transfer of money from the stab. fund to conservation. Mrs . Griffin inquired as to what it could be used for. She was told for schools , etc. - major construction projects . From the floor came the question about borrowing against this money we have and Mr. Hicks re-iteratel, that any money noted in this meeting must be raised and appropriate" 4 ed and there will be no funds available until 1973. Mr. Hicks spoke in answer to a request that this article be recessed for Town, Counsel study. The Moderator here asked if the Conservation Commission would settle for less . They agreed to settle for $5 , 000.00. Costa : Tonight we voted to change an article for the schools . At the high cost of land - $10, 000 is little enough to vote for investing in land for the people . . . . . $10,000 should be voted.. As has been brought out, to raise and appropriate this sum would reflect on the tax rate . We have been asked to be guided by the recommendations of the .Finance Committee to try to keep taped dol,7n.