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HOLDEN FINANCE COMMITTEE
MEETING MINUTES
DECEMBER 5, 2007
STARBARD BUILDING
Members Present: Paul Challenger, Al Berg, Peter Lacy, Jim Dunn, Maria Dell'Ovo, Rick Bates, Glenn Gaudette, Bob Ripley, Marilynn Foley
Also Present: Brian Bullock, Town Manager
The meeting was called to order at 7:02.
The committee discussed various funding plans for the proposed Public Safety Building. On a motion by Al 2nd by Glenn to finance the project with a debt exclusion to borrow $15,500,000.00 with no participation by the IIF and to use money from the sale of the Police Station to buy down the debt was voted unanimously. On a motion by Rick 2nd by Maria to borrow $10,600,000.00 as a debt exclusion and have the IIF contribute $5,000,000.00 to the project. A friendly amendment by Jim 2nd by Peter to ask the IIF to support $5,000,000.00 and commit to funding $85,000.00 into the IIF for 20 years was voted 6-3 (opposed Al, Maria, Glenn). The main motion as amended was voted 6-3 (opposed Al, Glenn, Bob).
On a motion by Al 2nd by Bob the minutes of November 28, 2007 was voted unanimously as amended (abstained Jim, Maria).
The meeting adjourned at 9:30.
Respectfully submitted,
Marilynn Foley, Secretary
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