BOS - May 2, 2012 Workshop

BOS - May 2, 2012 Workshop

Postby Suzanne Kane » Mon Apr 30, 2012 2:17 pm

Board of Selectmen
Workshop Meeting
May 2, 2012

4:00 PM
• Call To Order

1. To Accept bids and to Award $3,725,000 in Town of Douglas General
Obligation Refunding Bonds to Robert W. Baird & Co., Inc., and to execute
documents associated with the sale of the Bonds

2. Old/New Business

3. Adjournment
May 2, 2012
Approved June 5, 2012

• Call to Order
Mr. Bonin called the meeting to order at 4:00 PM in the Resource Room of the Municipal Center.

Board: Tim Bonin (Chairman), Mitch Cohen, Hal Davis, Mike Hughes (Vice Chairman-absent), Jeffrey LaPorte, Michael Guzinski (Town Administrator), Suzanne Kane (Administrative Assistant-absent).
Other Staff and Citizens: Cheryl Vaidya (Treasurer/Collector), Clark Rowell (Financial Advisor), Jeanne Lovett (Finance Director)

1. To Accept Bids and Award $3,725,000 in Town of Douglas General Obligation Refunding Bonds to Robert W. Baird & Co., Inc., and to Execute Documents Associated with the Sale of the Bonds. (00:35)
Ms. Vaidya went to the market Monday to refund the high school and old elementary school projects. Ms. Vaidya would like to award the bid to Robert W. Baird and Company, who came in with a TIC of 1.585. The Town will be saving approximately $1 million over 10 years.
There was discussion regarding bonding for the current school project. This issue will be revisited this time next year. There was also discussion regarding the impact on the Town’s bond rating.
Mr. Cohen made a motion to authorize the bond information as presented. Mr. LaPorte seconded the motion. Vote: Aye.
There is approximately $159,000 left in the high school construction project that has been borrowed but not expended, with $75,000 targeted toward repair of bathrooms at the current elementary school. The rest is being transferred to the current elementary school project. Mr. Cohen would like use some of the rest of the money for a high school wireless infrastructure upgrade, which would be necessary for the eighth grade iPad pilot program to move forward. Mr. Rowell discussed the general laws with regards to bonds. Mr. Cohen suggests adding an article to the June 11, 2012 Special Town Meeting. That decision will be made at the May 14, 2012 meeting, pending a decision from the auditors.

2. Old/New Business
New Business (27:51) Application for use of Town Property
Mr. Guzinski received a request from Celebration Graduation to have a fundraiser through a Toll Road, May 12, 2012, 8:00am – 12:00 noon. Ages 18 and older only would be in the road. In the past, the Police Dept. has restricted Toll Roads to the Fire Dept.
A decision was deferred until May 14, 2012 to give time for the Police Dept. and Fire Dept. to give input.

Old Business – There was no old business.

3. Adjournment (59:55)
Mr. LaPorte made a motion to adjourn the meeting at 4:55 PM. Mr. Cohen seconded the motion. All – Aye.

Respectfully submitted,

Mary Wright
Recording Secretary
Suzanne Kane
Posts: 655
Joined: Wed May 25, 2005 2:01 pm

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