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3 <br /> Finance Committee <br /> Minutes <br /> August 28, 2018 <br /> MINUTES <br /> Monday, July 9, 2018: <br /> Motion made by Mrs. Furbush to approve the minutes of Monday, July 9, 2018 <br /> as presented. <br /> Motion seconded by Mr. McCahill. <br /> VOTE: Unanimous. 5-0-1. <br /> Roll Call Vote: <br /> Mr. Richardson,yes Mr. Pettengill,yes Mr. Ryan, absent for vote <br /> Mr. Avis,yes Mr. McKelvey, abstained Mr. McCahill,yes <br /> Mrs. Furbush,yes Opposed, none <br /> NEW BUSINESS <br /> Review of Draft October 15, 2018 Annual Town Meeting Warrant: <br /> The Finance Committee reviewed and tools action on Draft 42 of the October 15, 2018 Annual <br /> Town Meeting warrant as follows; <br /> Article#1: To transfer from the Street Betterment Reserved Receipts Account, $272,919.06 <br /> to the Principal Inside 2 %2 Account for the purpose of distributing the payments made for street <br /> betterments within 30 days of assessment to reduce the amount of interest paid on the bond when <br /> the remaining amount is bonded. The article was HELD for additional clarification from the <br /> Treasurer regarding the proposed transfer of funds. <br /> Article #2: To transfer from unexpended amounts previously borrowed for various road <br /> projects as listed, $15,223.27 to pay costs associated with the various road projects. The funds <br /> are surplus bond proceeds. <br /> Motion made by Mr. Avis to approve and recommend Article#2 as presented. <br /> Motion seconded by Mr. McCahill <br /> VOTE: Unanimous. 6-0. <br /> Roll Call Vote: <br /> Mr. Richardson, yes Mr. Pettengill,yes Mr. Ryan, absent for vote <br /> Mr. Avis,yes Mr. McKelvey,yes Mr. McCahill,yes <br /> Mrs. Furbush,yes Opposed, none <br />