Minutes of Selectmen’s Meeting of April 30, 2008
Town Hall - Selectmen’s Office 2nd Floor
Present: Selectmen Casey, O’Donnell, Grimes, Ward, Chair Angley, Town Administrator LaFond and A.T.A. Bouchard. Also present Town Accountant Adams and Treasurer/Tax Collector Franey, Jack Hunter.
Meeting called to order at 10:10 A.M. by the Chair. The purpose of the meeting was to the Board approve the refinancing of the debt bonds.
Motion made by Grimes, second by Ward to authorize the following:
1. That under and pursuant to Chapter 44, Section 21A, of the General Laws, and any other enabling authority, there is hereby authorized the issuance and sale of a $2,154,000 General Obligation Refunding Bond (the “Refunding Bond) of the Town for the purpose of General Obligation Bonds dated December 15, 1996 (the Refunded Bonds”) and, in addition, to finance costs of issuances of the Refunding Bonds, any redemption premium and any interest due on the Refunded Bonds
and;
2. That the sale of the $3,054,000 General Obligation Municipal Purpose Loan of 2008 Bond (the “Bond”) to Bank of America, N.A. at the price of par and accrued interest is hereby approved and confirmed. The Bond shall bear interest at the rate of 3.27 percent per annum and shall be payable on November 1 of the years and in the principal installments, as follows:
Year of Maturity Principal Amt. Year of Maturity Principal Amt.
2008 $350,000.00 2013 $349,000.00
2009 $350,000.00 2014 $346,000.00
2010 $350,000.00 2015 $341,000.00
2011 $350,000.00 2016 $268,000.00
2012 $350,000.00
and;
3. To confirm and approve the provisions of the Bond Purchase Agreement dated April 28, 2008, relating to the negotiated sale of the Bond
and;
4. That each member of the Board of Selectmen, the Town Clerk and the Town Treasurer be and hereby are, authorized to take any and all such actions, and execute and deliver such certificates, receipts or other documents as may be determined by them, or any of them, to be necessary or convenient to carry into effect the provisions of the foregoing votes.
Vote: Unanimous.
Motion by Casey to adjourn at 10:25 A.M., second by Ward. Vote unanimous.
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