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10 <br /> Board of Selectmen <br /> Minutes <br /> August 27, 2008 <br /> NEW BUSINESS: <br /> Adoption of Policy—Budget Reserves: <br /> Draft budget reserve policies relative to Free Cash and the Stabilization <br /> Fund were presented to the Selectmen for adoption. As noted, it is the <br /> policy of the Town of Mashpee to utilize free cash balances for capital <br /> improvements, purchases of capital outlay and payment of unpaid bills, <br /> and it is the policy of the Town of Mashpee to maintain a stabilization <br /> fund with a total balance of 5%to 10% of the Town's overall budget. <br /> Motion made by Selectman Cook to adopt the policies in regard to <br /> Budget Reserves as presented. <br /> Motion seconded by Selectman Taylor. <br /> VOTE: Unanimous. 5-0. <br /> Recommendation for Bid Acceptance—Exhaust Recovery/Fire Station#2: <br /> Two proposals were received in response to advertisement for the <br /> installation of a source capture emergency vehicle exhaust fume removal <br /> system at the new South Mashpee Fire substation. <br /> Murphy Specialty, Inc. of Hyde Park MA submitted the recommended low <br /> bid proposal of$14,444.00. Correspondence was received from the <br /> Assistant Town Manager dated August 12, 2008 with respect to this <br /> regard. <br /> Motion made by Selectman Taylor to accept and award the exhaust <br /> recovery bid from Murphy.Specialty,Inc. as recommended. <br /> Motion seconded by Selectman Cook. <br /> VOTE: Unanimous. 5-0. <br /> Request of EDIC for Land Transfer: <br /> The discussion relative to the proposed EDIC parcel title transfer for two <br /> parcels of land located within the Industrial zoning district was deferred to <br /> the September 8, 2008 meeting. <br />