05/07/2007 Annual Town Meeting - Laserfiche WebLink

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Article 5 To see if the Town will vote to appropriate $2,000,000 to supplement a previously approved $3,500,000 bond authorization, to design, construct and equip a new Mashpee Library, including the payment of all costs incidental and related thereto and to determine whether this appropriation shall be raised by borrowing or otherwise. Provided that such appropriation shall be contingent upon a vote at an election to exempt from the provisions of G.L.C. 59 § 21C (Proposition 21/2), the amounts required to pay the principal of and interest on the borrowing authorized under this article, or take any other action relating thereto. Submitted by the Mashpee Public Library Board of Trustees Explanation: This article is the first of a two-step process, which would fund a supplementary amount for the design and construction of a new public library and is contingent upon the debt exclusion question on the Mashpee general election ballot, May 2007. The increased funding is attributable to a substantial increase in the global cost of construction materials and the total cost of the project. The Board of Selectmen recommends approval by a vote of 5-0. The Finance Committee recommends approval by a vote of 4-0 with one abstention. Motion made by Selectman Don Myers Motion: I move that the sum of$2,000,000 be and hereby is appropriated to pay costs of designing, constructing and equipping a new Mashpee Library, including the payment of all costs incidental and related thereto and that to meet this appropriation, the Treasurer, with the approval of the Selectmen is authorized to borrow said amount under and pursuant to Chapter 44, Section 7(3) of the General Laws, or pursuant to any other enabling authority, and to issue bonds or notes of the Town therefore; provided, however, that no sums shall be borrowed or expended pursuant to this vote unless and until the Town shall have voted at an election to exempt from the provisions of G.L. Ch. 59 § 21C (Proposition 21/2), the amounts required to pay the principal of and interest on the amounts authorized to be borrowed hereunder. The amount authorized to be borrowed by this vote shall be expended in addition to all other amounts previously appropriated by the Town for this project. Motion passes by a 2/3rds at 8:12 PM. 16