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t <br /> YASH.PEE CON"ERVATTON C 'jr%1 ISIE5 ION <br /> MEETING OF MAY 9* 1984 <br /> h <br /> A S HPEE roWN HAL.1, <br /> The following members of the Mashpee Conservation Commission were in <br /> attendance for tonight' s meeting : Chairman Dorothy F. Studley, Mice <br /> chairman Pauline F. DeLory, Charles F. Bzuckingham ( last portion of <br /> meeting) v Wayne Tavares, Stu Peoples and B. Jean Thomas,-. <br /> chairman to ley convened the meeting at 7:50 p.m* <br /> Donau Jermyn and Robert Hallet appeared before the Commission with refer- <br /> ence to the town-owned cranberry bogs which they are managing, oriald'_ ,J x yn <br /> ai.d he has been talking with Joe Murphy, the executive secretary, since <br /> he received the lease. He presented the Comm.iI ssion with a copy of his pro- <br /> posal with reference to the irrigation system regarding selling it back to <br /> the town on a yearly basis over the course of the lease so that he would be <br /> dealing with the current members of the Conservation commission. The pro- <br /> posal was given to the Executive Secretary and he was to ask someone to sit <br /> down with hien from the Conservation %ommission to negotiate with 14r. Jermyn <br /> as to the payback on the sprinkler system. The proposal was reviewed by <br /> membe-rs of the C.ommission, Mr. Jermyn explained that they have borrowed <br /> the �; ny and the systems are being instad. A. <br /> -ie said that instead of any <br /> :coney exchanging hands , they would wrk it in fora of a credit and one time <br /> a year, they would receive a credit from the town to them ectal to their <br /> principal and interest payment for the loan for the bag. k,Mr. e n said <br /> s 4 <br /> that in the course of seven years which their loam is for, installments <br /> woul,i be pairl by the town to them, 'r. Jermyn said that they would carry <br /> it until next :-o ri l and at that particular time, they would own the Town <br /> of Nlashpee a cranberry payment and thea they would deduct a credit against <br /> ghat they owe to Town and then they would pay the bank the principal and <br /> .interest payment which would go on for a period of seven gears. He said <br /> that at the end of seven years, the loan would be paid and the Town owns <br /> the system outright and they would have only one or two years left on the <br /> lease, He said that it could be dome on a faster basis -- such as two <br /> years. It is whatever the Town wants to approve as far as a pay back on <br /> the system, He said in the lease that was one of the big things that they <br /> have the right to sell it back to the Town. <br /> Mr. Jermyn indicated that the Executive Secretary responded by telling him <br /> when he got all his facts and figures together then he could sit down. <br /> Mr. Jermyn indicated that he thought he would have that information for <br /> tonight' s meeting but that they were not quite dome as far as bills. ow- <br /> ever, he said that the system will cost between $68 , 000 and $70,00 0, He <br /> said that it was financed at a bark with a variable rate for a seven-year <br /> commercial loan. He mentioned that both he and Mr. Hallet put their houses <br /> p to get the money. He said that it would be up to Mashpee if they wanted <br /> to pay it off in two years and avoid the interest. He dial not feel that <br /> they should finance the Town of Mashpee' s sprinkler system because once it <br /> s installed in the ground, it becomes the property of the Town. <br /> Jean Thomas said that we have to get together and work out something mutually <br /> agreeable for them and for the Town. She said that it would not happen to-. <br /> night until he got his figures. <br />