HomeMy WebLinkAbout1995-08-08 Board of Selectmen Minutes Board of Selectmen Meeting
August 3, 1995
The meeting convened at 7:30 p.m. in the Selectmen's Meeting Room, 16 Lowell Street, Reading,
MA. Present were Chairman Sally Hoyt, Secretary Camille Anthony, Selectman George Hines,
Finance Director Beth Klepeis, Town Clerk Cathy Quimby, Town Manager Peter Hechenbleikner,
Town Counsel Theodore Cohen, Nancy Eaton and Paul Feely.
The Board reviewed the sale of Bond Anticipation Notes, and on motion by Hines seconded by
Anthony the Board approved the sale of Bond Anticipation Notes dated August 15, 1995, due
July 12, 1996, to the following buyers in the following amounts at the interest rates noted: Bay
Bank $2,000,000 at 3.83 %NIC; State Street Bank $6,840,000 at 3.87% NIC. The motion was
approved by a vote of 3-0-0.
With regard to Bear Hill, Ted Cohen noted that there are two issues outstanding the Housing
Authority needs to sign an agreement in recordable form and we need the written release from the
U.S. Coast Guard. Cohen has spoken with the Coast Guard in Providence and they will start their
review at the end of this week and complete it the middle of next week. If everything is OK, they
will sign off at the end of next week. Bear Hill Realty Trust will not close until the release is in
hand. With regard to the Housing Authority, they unanimously approved an agreement, but it
was different than what had been previously discussed. Clearly, some additional time will be
needed in order to effectuate these final matters. On motion by Hines seconded by Anthony the
Board voted to extend the Bear Hill Realty Trust closing date to September 15, 1995, by a vote
of 3-0-0.
On motion by Anthony seconded by Hines the Board voted to go into Executive Session for the
purpose of discussion of the sale of real estate not to come back into Open Session. On a roll call
vote, all three members present voted in the affirmative and the motion was carried.
Respectfully submitted,
Secretary