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<br />purpose, and to apply the premium received by the Town upon the sale of any bonds or notes <br />thereunder, less any such premium applied to the payment of the costs of issuance of such bond or <br />notes, to pay project costs and reduce the amount authorized to be borrowed by the amount of the <br />premium so applied; provided, however, that this appropriation and debt authorization shall be <br />contingent upon passage of a Proposition 2½ debt exclusion ballot question under General Laws <br />Chapter 59, §21C(k). <br /> <br />Per usual practice, Town Counsel recommends that such capital borrowing authorizations be <br />reviewed by Bond Counsel for suggested language. <br /> <br />Motion passes 8:54 pm- approved -175 opposed -75 <br /> <br />Article 8 <br /> <br />To see if the Town will vote to accept General Laws Chapter 40, Section 39M for the purpose of establishing <br />a separate account to be known as the Municipal Water Infrastructure Investment Fund, revenues from <br />which shall be expended exclusively for maintenance, improvements and investments to municipal <br />drinking, wastewater and stormwater infrastructure assets, and, further, to authorize the imposition of a <br />water infrastructure surcharge on real property in the Town at the rate of two per cent (2%) of the real estate <br />tax levy against said real property, as determined annually by the Board of Assessors, which will be <br />deposited into the Fund; said surcharge to commence in Fiscal Year 2022, effective July 1, 2021; or take <br />any other action relating thereto. <br /> <br /> Submitted by the Board of Selectmen <br /> <br />Explanation: This article establishes a special fund for infrastructure for wastewater, stormwater and <br />municipal drinking water. The funding source is a surcharge of two percent (2%) on the annual property <br />tax assessed on real property starting in Fiscal Year 2022, which begins on July 1, 2021. Real estate <br />properties that are fully exempt from property taxes are not subject to the surcharge. In addition, taxpayers <br />who receive partial exemptions of the real estate taxes assessed on their domiciles, including certain seniors, <br />veterans, blind persons and surviving spouses, are fully exempt from the surcharge. Taxpayers that receive <br />other exemptions or abatements of their real estate taxes will receive a pro rata reduction in their surcharges. <br /> <br />The Board of Selectmen recommends approval of Article 8 by a vote of 5-0 <br /> <br />The Finance Committee recommends approval of Article 8 by a vote of 6-0 <br /> <br />Motion made b <br /> <br />Motion: I move that the Town vote to approve Articles 8 and 9 as printed in the Warrant and with <br /> <br /> <br />Motion passes unanimously at 8:55 PM <br /> <br /> <br /> <br />