HomeMy WebLinkAbout2003-01-07 Board of Selectmen Minutes Board of Selectmen Meeting
January 7, 2003
The meeting convened at 7:00 p.m. at the RCTV Studio, 224 Ash Street, Reading,
Massachusetts. Present were Chairman Camille Anthony, Vice Chairman Matthew
Cummings, Secretary Richard Schubert, Selectman Gail Wood, Town Manager Peter
Hechenbleikner, Finance Director Beth Klepeis, Dennis Anderson from the Chronicle, Nadine
Wandzilak from the Advocate.
Discussion/Action Items
Sale of BANS - The Finance Director reviewed the sale of the Bond Anticipation Notes. Board
members asked questions about the bond rating, and specifically about the Moody's downgrade
of Reading's bond rating.
On motion by Cummings seconded by Wood, the Board voted that all action taken by the
Town Treasurer in advertising for public sale of the $2,635,000 Bond Anticipation Notes
(BANS) of the Town authorized pursuant to Chapter 44, Sections 7(3), 7(21) and 8(5) of the
Mass. General Laws, as amended and supplemented, and by votes of the Town duly
adopted and in connection with the preparing and distributing of a Preliminary Official
Statement and Notice of Sale and a final official statement, be and hereby is ratified,
approved and adopted-,
That the Notes shall be dated as of January 9, 2003, shall mature on January 8, 2004, shall
- be numbered consecutively and,
That the Notes shall be issued by means of a book-entry system evidencing ownership and
transfer of the Notes and
That State Street Bank and Trust company shall act as Note Registrar, Transfer Agent and
pang Agent therefor and,
That the Notes shall bear interest and are hereby sold and awarded as follows:
Fleet National Bank 1.24% coupon, no premium; total interest cost$32,583.24
That the Town Treasurer is authorized to deliver a Material Events Disclosure Certificate
and the Notes to purchasers and,
That the Board of Selectmen, the Treasurer and the Town Clerk by and hereby are
authorized to take such action.
The motion was approved by a vote of 4-0-0.
Appointment to the Reading Retirement Board — The Town Manager noted that the Board of
Selectmen has one appointee to the Reading Retirement Board. This is a three year appointment.
It used to be appointed by the Town Manager. Beth Klepeis has had the position for a number of
years.
Selectman Gail Wood noted that Beth Klepeis is very good at making complicated subjects
understandable to large groups and that was very much appreciated.
Board of Selectmen Meeting—January 7, 2003 —Page 2
On motion by Wood seconded by Cummings, the Board appointed Beth Klepeis to a term
on the Reading Retirement Board expiring December 31, 2005 by a vote of 4-0-0.
Approval of Motion regarding 20 Year RMLD Agreement — The Town Manager discussed a
proposed resolution regarding the 20 Year Agreement with the Towns of Lynnfield, North
Reading and Wilmington as well as the Reading Municipal Light Department.
On motion by Cummings seconded by Wood, the Board of Selectmen voted to approve the
attached Resolution regarding the 20 Year Agreement with the Towns of Lynnfield, North
Reading, and Wilmington as well as the Reading Municipal Light Department by a vote of
4-0-0.
The Town Manager was asked to have the CAB member from Reading (Fred Van Magness) in
to talk with the Board on the 14th. He was also asked to schedule a budget session on a Saturday,
and on a separate Saturday set a discussion with the School Committee regarding the FY 2003
Budget and FY 2004 Budget.
The Board members will get the Town Manager's evaluation forms into Vice Chairman Matthew
Cummings by Friday.
Chairman Camille Anthony noted that the Veteran's Flower Fund letter raised approximately
$4,000 already. Coolidge Middle School has also contributed$400 to date.
On motion by Wood seconded by Schubert, the Board of Selectmen voted to adjourn their
special meeting of January 7, 2003 at 7:25 p.m. except for the Selectmen's Forum following.
The motion was approved by a vote of 4-0-0.
Respectfully su�bmitte ,
Secretary