05/04/1998 Annual Town Meeting - Laserfiche WebLink

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Explanation: The Commonwealth of Massachusetts, through the Water Pollution Abatement Trust, is providing no interest loans to communities to assist homeowners in complying with Title V. The loans are for $200,000, including $20,000 that the towns can use for any purpose related to the implementation of the program. The loans are available to homeowners at either 2 1/z% or 5% interest, to cover any ongoing costs of the program. Loans must be secured by a betterment assessed by the Town on the property being improved by the loan. Communities are expected to identify those areas in Town where septic upgrades are needed and direct the funds to those priority areas. In order to qualify for the loans, town meeting must vote to authorize the Town to borrow funds from the Trust. The community will have 18 years to repay the loan to the Trust. Recommendation: Finance Committee recommends approval. Motion made by George Costa. Motion: I move that the Town vote to appropriate the sum of$200,000 for the purpose of financing the repair, replacement and/or upgrade of residential septic systems, pursuant to agreements between the Board of Health and residential property owners in the Town, and that to meet this appropriation, the Treasurer, with the approval of the Board of Selectmen, is hereby authorized to borrow said sum under and pursuant to Chapter 111, Section 127B 1/2 and Chapter 29C of the Massachusetts General Laws, or any other enabling authority, and to issue bonds or notes of the Town therefor, which bonds or notes, at the direction of the Treasurer and the Board of Selectmen, may be issued to the Massachusetts Water Pollution Abatement Trust. Motion passes unanimously at 9:27 p.m. Article 27 To see if the Town will vote to re-authorize the revolving Home Composting Bin Account through the Town Accountant's office in accordance with Massachusetts General Laws, Chapter 44, Section 53E 1/2 , to be expended under the direction of the Board of Health, in order to place anticipated revenues collected from the sale of compost bins which shall be used to purchase additional compost bins, and advertise the availability of such bins, and to establish the limit on expenditures from said account for Fiscal Year 1999 at $2,500, or to take any other action relating thereto. Submitted by the Board of Health Explanation: Revolving account is required by the Department of Environmental Protection in order to receive compost bins at no charge to the Town. Revenues must be used to purchase additional bins and advertise their availability. Anticipated Budget: Revenues $2,500 Expenditures $2,500 This account will be managed by the Board of Health through its agent. 27