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2006-06-12 Special Town Meeting Minutes
COMMONWEALTH OF MASSACHUSETTS Middlesex, ss. Officer's Return, Reading: By virtue of this Warrant, I; on May. 24, 2006 notified and warned the inhabitants of the Town of Reading, qualified to vote on Town affairs, to meet at the place and at the time specified by posting attested copies of this Town Meeting Warrant in the following public places within the Town of Reading: Precinct 1 J. Warren Killam School, 333 Charles Street Precinct 2 Registry of Motor Vehicles, 275 Salem Street Precinct 3 Reading Police Station, 15 Union Street Precinct 4 Joshua Eaton School, 365 Summer Avenue Precinct 5 Town Hall, 16 Lowell Street Precinct 6 Austin Preparatory School, 101 Willow Street Precinct 7 Reading Library, Local History Room, 64 Middlesex Avenue Precinct 8 Mobil on the Run, 1330 Main Street The date of posting being not less than fourteen (14) days prior to June 12, 2006; the date set for the Special Town Meeting in this Warrant. I also caused an attested copy of this Warrant to be published in the Reading Chronicle in the issue of May 24, 2006. copy. Attest: 1 r J,. Ulrich, Constable SPECIAL TOWN MEETING (Seal) COMMONWEALTH OF MASSACHUSETTS Middlesex, ss. To any of the Constables of the Town of Reading, Greetings: In the name of the Commonwealth of Massachusetts, you are hereby required to notify and warn the inhabitants of the Town of Reading, qualified to vote in elections and Town affairs, to meet at the Reading Memorial High School Auditorium, 62 Oakland Road in said Reading, on Monday, June 12, 2006, at seven - thirty o'clock in the evening, at which time and place the following articles are to be acted upon and determined exclusively by Town Meeting Members in accordance with the provisions of the Reading Home Rule Charter, ARTICLE 1 To hear and act on the reports of the Board of Selectmen, Town Accountant, Treasurer- Collector, Board of Assessors, Director of Public Works, Town Clerk, Tree Warden, Board of Health, School Committee, Contributory Retirement Board, Library Trustees, Municipal Light Board, Finance Committee, Cemetery Trustees, Community Planning & Development Commission, Conservation Commission, Town Manager and any other Board or Special Committee. Board of Selectmen ARTICLE 2 To choose all other necessary Town Officers and Special Committees and determine what instructions shall be given Town Officers and Special Committees, and to see what sum the Town will raise by borrowing or transfer from available funds, or otherwise, and appropriate for the purpose of funding Town Officers and Special Committees to carry out the instructions given to them, or take any other action with respect thereto. Board of Selectmen ARTICLE 3 To see if the Town will vote to amend the FY 2007 — FY 2011, Capital Improvements Program as provided for in Section 7 -7 of the Reading Home Rule Charter, or take any other action with respect thereto. Board of Selectmen ARTICLE 4 ' To see if the Town will vote to apply for admission to the Massachusetts Water Resources Authority Water System to receive from Massachusetts Water Resources Authority the entirety of the Town of Reading's public water supply in accordance with Chapter 372 of the Acts of 1984 of the Commonwealth; and to see what sum the Town will raise by borrowing, or transfer from available funds, or otherwise, and appropriate for the payment of entrance fees, costs of connection; demolition of the existing Water Treatment Plant and other modifications to the water distribution system, and other expenses for the same; and to see if the Town will vote to authorize the Board of Selectmen, acting as Water Commissioners, to take such actions necessary or required to apply for admission to and to receive the entirety of the Town of Reading's public water supply from the Massachusetts Water Resources Authority 2 Water System, including, without. limitation, filing legislation, payment of applicable fees and charges, and entering into an agreement with the Massachusetts Water Resources Authority as may be required or necessary to receive a supply of water at prevailing rates charged by the Massachusetts Water Resources Authority to communities in its water supply system, or take any other action with respect thereto. Board of Selectmen ARTICLE 5 To see if the Town will vote to authorize the Board of Selectmen to file a Home Rule Petition with the Great and General Court of the Commonwealth of Massachusetts which would provide legislative approval for the Town of Reading to purchase the entirety of its public water supply from the Massachusetts Water Resources Authority including to the extent possible expediting and /or waiving of all other required approvals, any other legislation not withstanding, or take any other action with respect thereto. Board of Selectmen ARTICLE 6 To see what sum the Town will raise by borrowing, or transfer from available funds, or otherwise, and appropriate for the purpose of making improvements to or replacing the Louanis Water Treatment Plant and related facilities by construction of a new facility and /or renovation of the existing facility, including the costs of engineering services, plans, documents, cost estimates, bidding services and all related expenses incidental thereto and necessary in connection therewith, said sum to be expended by and under the direction of the Town Manager; and to see if the Town will authorize the Board of Selectmen, the Town Manager, or any other agency of the Town, to apply for a grant or grants, to be used to defray the cost of all, or any part of, said water system improvements; and to authorize the Town Manager to enter into any and all contracts and agreements as may be necessary to carry out the purposes of this Article, or take any other action with respect thereto. Board of Selectmen ARTICLE 7 To see if the Town will vote to amend one or more of the votes taken under Article 15 of the Warrant of the Annual Town Meeting of April 24, 2006, and to see what sum the Town will vote to appropriate by borrowing or transfer from available funds, or otherwise, as the result of any such amended votes for the operation of the Town and its government, or take any other action with respect thereto. Finance Committee ARTICLE 8 To see if the Town will vote to authorize the Board of Selectman to acquire by purchase, eminent domain, gift or otherwise, two parcels of land containing approximately 2.14 acres located on Main Street shown as Lots 2 and 16 on Board of Assessors' Map 237 currently believed to be owned by the estate of Richard A. Mattera, said land to be used for open space and conservation purposes in accordance with the provisions of Mass. General Laws Chapter 40, Section 8C to be under the care, management and control of the Town of Reading Conservation Commission and further to be dedicated in perpetuity to purposes stated in Article 97 of the Amendments to the Constitution of the Commonwealth of Massachusetts including the protection of water resources and shall be fully protected by all provisions of Article 97; and to see if the 3 Town will vote to appropriate by borrowing, or transfer from available funds, or otherwise, a sum of money; and to authorize the Board of Selectmen to enter into any and all agreements and contracts upon terms and conditions as they may determine to be necessary to carry out the acquisition of such parcel and the purposes of this Article, and to see if the Town will authorize the Board of Selectmen, Town Manager and /or the Conservation Commission to apply for a grant or grants, including but not limited to a Self -Help Grant under MGL, Chapter 132A, Section 11, to be used to defray the cost of all, or any part of the purchase price for such parcel of land; provided however that any borrowing authorized by this Article and any appropriation subject to this Article shall be contingent upon the passage of a debt exclusion referendum question under General Laws Chapter 59, §21 C within 90 days of the close of this Special Town Meeting, or take any other action with respect thereto. Board of Selectmen GI and you are directed to serve this Warrant by posting an attested copy thereof in at least one (1) public place in each precinct of the Town not less than fourteen (14) days prior to June 12, 2006, the date set for the meeting in said Warrant, and to publish this Warrant in a newspaper published in the Town, or by mailing an attested copy of said Warrant to each Town Meeting Member at least fourteen (14) days prior to the time of holding said meeting. Hereof fail not and make due return of this Warrant with your doings thereon to the Town Clerk at or before the time appointed for said meeting. Given under our hands this 16th day of May, 2006. Cami e . Anthony, Chairman Richard W. Schubert, Vice Chairman Ste htnA. Gold p Y� Secretary James E. Bonazoli SELECTMEN OF READING AlaKW. Ulrich, Constable SPECIAL TOWN MEETING Reading Memorial High School June 12, 2006 The meeting was called to order by the Moderator, Alan E. Foulds, at 7:37 p.m., there being a quorum present. The Invocation was given by The Reverend Kyung Lyul Yu of the Church of the Nazarene followed by the Pledge of Allegiance to the Flag. The Warrant was partially read by the Town Clerk, Cheryl A. Johnson; when on motion by Stephen A. Goldy, member of the Board of Selectmen, it was voted to dispense with further reading of the Warrant except for the Officer's Return, which was read by the Town Clerk. ARTICLE 1 - On motion by Stephen A. Goldy, member of the Board of Selectmen, it was voted to table the subject matter of Article 1. ARTICLE 2 - On motion by Ben Tafoya, member of the Board of Selectmen, it was voted to table the subject matter of Article 2. ARTICLE 3 — On motion by Stephen A. Goldy, member of the Board of Selectmen, it was voted to amend the FY 2007 — FY 2011, Capital Improvements Program as. provided for in Section 7 -7 of the Reading Home Rule Charter, by modifying the following projects: • CS -P -001 Acquire Open Space - $850,000 from Grants and by adding the following projects: • PW -W -006 Water Supply — MWRA — $ 8.6 million from Enterprise Debt • PW -W -007 Build new Water Treatment Plant — 24.7 million from Enterprise Debt The following presentations on Articles 4, 5, and 6 were given by Ted McIntire, Director of Public Works; Frederick A. Laskey, Executive Director of MWRA; Robert LeLacheur, Finance Director; and Peter Hechenbleikner, Town Manager: Town Manager, Peter Hechenbleikner gave the following overview: Town of Reading Water Supply A decision on Reading's future water supply must be made — doing nothing is not an option Article 3 - Needs to be approved for any action on other articles Article 4 — needs 2/3 vote • If Article 4 is approved by 2/3 vote: — go to Article 5 and have a counted vote — Table Article 6 — vote $130,000 under Article 7 • If Article 4 does not get 2/3 vote: — Table Article 5 — Go to Article 6 • Article 6 needs 2/3 vote • If Article 6 gets 2/3 vote: — Vote article 7 in the amount of $230,000 • If neither Article 4 nor Article 6 get 2/3 vote: — Make sure that reconsideration has been filed for each so they can still be discussed Ask Town Meeting what if any additional information is needed to enable them to make a decision by a 2/3 vote — Adjourn to a date certain and take both articles up again A decision on Reading's future water supply must be made — doing nothing is not an option Ted McIntire, Director of Public Works outlined our options: Outline • History — Water Supply Planning /Decisions • Water Treatment Plant (WTP) Feasibility Study • Water Quality Goals /Recommendations • WTP Facility Evaluation /Recommendations • WTP Alternatives /Costs • Understanding of why "Do Nothing" is not an option HISTORY — WATER SUPPLY PLANNING ■ 1999 — Ad Hoc Water Supply Advisory Committee • Water Conservation ($1.0M) • Supplemental MWRA Water ($250K) • Renovate Water Treatment Plant Decision History • November 2003 Town Meeting funded the design - $1.5 million • Evaluate new facility vs. rehab /addition - 2 - Special Town Meeting June 12, 2006 ■ BOS approved new facility ■ Blue- spotted salamanders ■ Alternative site analysis ■ BOS site visit — September 10, 2005 ■ Evaluate 100% MWRA vs. WTP ■ April 11, 2006 — BOS 100% MWRA Water Feasibility Study • January 2003 • Meet drinking water standards • Address consumer complaints • Excessive maintenance of aging and outdated equipment • Meet building codes and safety regulations • Update security systems • Improve plant operational efficiency Water Quality Evaluation Recommendations ■ Construct a membrane filtration system to: — Reduce TOCs and TTHMs — Improve color and taste — Continue to meet iron and manganese standards • Use chloramines as a secondary disinfectant to reduce TTHMs • Use potassium hydroxide instead of lime to reduce hardness - 3 - Special Town Meeting June 12, 2006 H O H H H z W W P-4 W 0 z 0 H H z H H z 0 U cf] �i O v H a Pa P-4 c�4 n i W H Q W H H z H U �1 W H ,. __� <. �_._I� r awl Levi 0 -1 "R at ia� �m z iipo t1 Z W 11�114.�� M UJI ui qWye RV; I Tc_ Jqj ZO 4 m 1 'R01k , 3y"'s Mob P_ Akc 0 PAM— a go� Act 0" Alias Oc Cn UJ a CL Z 0 p W, 42 7-. 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'•, y� rr/�'7Wr6� O� '� SETT`,G� A O O 3 a ra z 0 r-a H Q' H z w cn w a P4 a 0 as z 0 H H H z w w P4 P-1 I i Sa `�G :� 4491 X36 e° `'"�� o w m �'° a � : ;�. 2 30 ,�.eM 'i SETi�E� Reading FINCQM and staff financial questions for the MWRA 1. Please confirm what amount is currently in the Rate Stabilization Fund. Previous information provided to us stated that this fund had been depleted. Under the terms of its General Bond Resolution, MWRA maintains two funds, Rate Stabilization and Bond Redemption, that are used to smooth rate increases. The MWRA has a three to five year rate stabilization strategy and added over $30 million in Bond Redemption Funds in FY06 to allow the mitigation of future rate increases. Monies in these funds come from year- end operating surpluses and debt restructuring. The amounts in the funds and the permitted and planned uses are described below and in attachment A. The rate stabilization fund balance at June 30, 2005 was $43,445,243, of which $15,373,631 is attributable to the water fund. Planned use in FY06 is $10,739,948, of which $2,813,866 is attributable to the water fund. The ._ projected balance at June 30, 2006 is $32,705,296, of which $12,559,764 is attributed to the water fund. The bond redemption fund balance at June 30, 2005 was $38,993,208, of which $22,506,139 is attributable to the water fund. Planned use in FY06 is $14,430,000, of which $6,262,620 is attributable to the water fund. Per the FY07 planning estimates, the $25,805,000 Capital Appreciation Bond, and the $5,000,000 projected FY06 surplus will be added to this fund. The projected balance at June 30, 2006 is $55,368,208, of which $21,969,144 is attributable to the water fund. See attachment <A> 2. Please confirm the current amount in Capital Reserves. Again, we were provided information that stated that this was depleted. To preserve strong bond ratings, the MWRA maintains five separate capital reserves. In addition to the Rate Stabilization and Bond Redemption funds, MWRA maintains five funded reserves required by the terms of the General Bond Resolution: Debt Service Reserve, CORE, Operating, Insurance, and Renewal and Replacement. These capital reserve funds total approximately $361 million. The MWRA added $17.2 million to Debt Service Reserve in conjunction with the most recent bond sale in March. In addition, we added $0.9 million to the Operating reserve. The amount in each reserve, the basis for determining the funding requirement and when a reserve can be used to reduce rate revenue requirements are discussed in the attachment A. See attachment <A> 3. What is the MWRA policy for maintaining reserves? As described in the answers to questions one and two, the MWRA maintains two types of reserves. These reserves are required under our General Bond Resolution and MWRA policy is to maintain reserves in compliance with the resolution. See attachment <A> 4. Can we see a history of the reserve funds? Starting balance, funds used in a given year and ending balance. Also, what is the magnitude of reserve funds needed to impact rates? For example how much would be needed to move the rate down by 1 % for a year. A summary of the Rate Stabilization and Bond Redemption funds is attached. Reducing the rate by I% in FY07 would require the use an additional $4.7M in rate stabilization reserves. See attachment <B> S. The presentation referenced a 10 year capital plan. What are capital reserves or other funding sources for the plan? How much of this plan is reflected in the rate projections? What is on the list of $400 million in deferred capital projects? During construction of a capital project, the MWRA uses short term borrowing under a Tax Exempt Commercial Paper Program and when the asset is completed, we issue permanent financing up to 40 years. The funding source of the capital program is the Capital Markets and the issuance of bonds. All of the capital plan spending and debt issuance is reflected in the rate projections. The list of $400 million in deferred capital projects is attached, projects deferred are shaded. See attachments <C> & <D> 6. Of the capital expenditures from the past ten years, how much is still financed, and how much has been repaid? How about the last five years? See attachment <E> 7. Please give a long -term forecast of debt repayment for just the water system, based upon your existing debt and current capital plan. See attachment <F> 8. What is the current ratio of capital to operating costs in the rate structure? What is the recent history of inflation in operating costs and what are the key drivers of these increases? The current ratio of capital to operating costs is 61 %. The key driver is the debt outstanding to finance the $7 billion canital nrogram_ Operating Expenses have grown less than inflation from 2000 through 2006. Key drivers are the consolidation of maintenance facilities and administrative offices, a reduction in the work force of over 500 employees, and renegotiation of the residuals contract. $240 , . ........... ............ . .. ..._.........., ... $220 $200 $180 $160 $140 $120 $100 FY00 FY01 FY02 FY03 FY04 FY05 FY06 FYOO Inflated (Boston CPI -U July 2005) 9. Define the `full rate revenue requirement ". Does this rate, if the assumed (budgeted) volume of sales is achieved, generate any additional reserves? Please confirm that for FY07 this figure is $554,161,378 (+17.4 Yo) before the use of any reserves or debt relief. The "Rate Revenue Requirement" (RRR) is the amount the MWRA annually assesses and collects from communities within MWRA's service area for water and sewer services. The RRR is the total expenses less the use of any rate stabilization reserves and "non- rate" revenue. The RRR is allocated to MWRA water communities on the basis of the amount of water they used in the prior calendar year. Current year water use does not affect the current year RRR. Should actual expenses be less than budgeted, the surplus amount is added to the rate stabilization fund, the bond redemption funds, or both. The RRR would in fact be $554M without the planned use of reserves in FY07. 10. Given the large amount of MWRA fixed costs, what has the impact of the large drop of water sales over the past several years been? How much of this `cost' has been passed along to the remaining water consumer, and if less than the full amount, how has this gap been funded? Does your budget process assume continued conservation efforts and lower future water demand (absent any new customers)? The water assessment methodology employs a "zero -sum" approach. MWRA only collects the budgeted RRR for each fiscal year. Whether we are supplying 300 mgd, 250 mgd, or some other amount, each community is responsible for their proportional share of the total. If a community is using 1 % of the system (water supplied), their share of the total RRR is 1 %. 11. When the MWRA used any debt instrument in the past decade other than fixed rate term debt, has "savings" been allocated to a reserve fund at all times? Has the change in value of all fixed income derivatives used also been allowed to flow through such a reserve fund? Savings from variances in the MWRA budget have been used to fund reserves and defease future debt payments for rate relief. Savings achieved through refundings or other derivative products are factored into the debt service budget reducing the expense for future years. 12Does the MWRA anticipate any changes to the current debt policy? At what point is non fixed rate debt considered to have generated a sufficient profit or loss versus issuing fixed rate debt initially? What is the term structure of the MWRA Is asset/liability book? MWRA is in the process of reviewing its current debt policy and will look at opportunities to better match the life of the assets to the debt repayment schedule. MWRA's current debt policy is to issue debt with the lowest interest cost based on the interest rate environment at the time the debt is issued. The options available to the MWRA include long term fixed rate, short term variable rate or variable rate debt swapped to fixed rate with an interest rate hedge instrument. Typically asset useful life values are much longer than the average life of the debt outstanding. Debt issuances have been primarily from 25 to 30 years, with some issuances up to a 40 year term. State Revolving Fund debt issues range from 20 to 30 year terms as required by the program. Most recently, the MWRA took advantage of the flat yield curve, and issued and restructured debt with an amortization period of 40 years. 13.Does the MWRA have a formal investment policy with its' own funds? Yes, the MWRA has a formal investment policy that is included in its general bond resolution. This policy allows the MWRA to invest in obligations of the U.S. Treasury, its agencies, and instrumentalities, bonds, or notes of public agencies or municipalities, bank time deposits, guaranteed interest contracts, money market accounts, interest rate swap agreements, and repurchase agreements. Attachment A MWRA Reserve Summary MWRA Rate Stabilization, Bond Redemption, and Funded Reserves (Updated based on Proposed FY06 Year End) Under the terms of its General Bond Resolution, MWRA maintains two funds, Rate Stabilization and Bond Redemption, that are used to smooth rate increases. Monies in the funds come from year -end CEB surpluses. The amounts in the funds and the permitted and planned uses are discussed below. Amounts reflect anticipated year -end surplus of $5 million in FY06. Rate Stabilization - $32.7 million. Under the terms of the General Bond Resolution, the annual use of Rate Stabilization monies cannot exceed 10% of the year's senior debt service. The maximum MWRA can use in FY06 is $16.4 million. The Proposed Final FY07 CEB includes $16.6 million use of rate stabilization monies. Current planning estimates assume use of nearly all of the Rate Stabilization monies between FY06 and FY08, with a small amount in FYI 0. Bond Redemption - $55.4 million. Monies in the Bond Redemption Fund can be used only to retire or prepay outstanding debt. There is no annual limit on the amount of Bond Redemption funds used in a year. However, there are constraints based on bond maturity dates. The Proposed FY07 CEB assumes the use of $19.1 million of Bond. Redemption in FY07. The project June 30, 2006 balance reflects the addition of $25.8 million from the 1990 Series A restructuring and the proposed deposit of $5 million from the FY06 surplus. Current planning estimates assume that the remaining funds are exhausted by FYI 0. In addition to the Rate Stabilization and Bond Redemption funds, MWRA maintains five funded reserves required by the terms of the General Bond Resolution: Debt Service, CORE, Operating, Insurance, and Renewal and Replacement. The amount in each reserve, the basis for determining the funding requirement and when a reserve can be used to reduce rate revenue requirements are discussed below: Debt Service Reserve - $254 million. This is MWRA's largest reserve, and is funded from bond proceeds. The reserve has been updated to include the addition of $17.2 million of debt service reserve in conjunction with the 2006 Series A &B transaction. The required balance is equal to the sum of the average annual debt service for outstanding issues. The fund can be used to pay debt service when the amount for a specific debt series in the reserve is greater than the remaining debt service. CORE - $20 million. The required balance is 10% of each year's senior debt service on bonds outstanding as of July 1. Excess monies can be transferred to the revenue fund when reserve amounts are greater than required. Operating Reserve - $32.9 million. The required balance is one -sixth of operating expenses for a year. Based on the Final FY06 CEB, the required balance is $32.9 million. The Final FY06 CEB includes $866,000 as an addition to the reserve to meet the required balance. Insurance Reserve - $19 million. The required balance is based on the triennial recommendation of an insurance consultant. The last recommendation (December 2003) increased the requirement from $18 million to $21 million. MWRA made a deposit of $1 million in FY05 and is withholding the next installment pending a new triennial recommendation due in FY07. Renewal and Replacement Reserve - $35 million. The required balance is based on the triennial recommendation of a consulting engineer. The current recommendation is $35 million. MWRA's consulting engineer has updated its triennial report in FY06 and the consultant recommended no changes to the requirement. Attachment B FY06 CEB Closin¢ Rates Management Reserm Update Source/Use Amount Rate Stabilization Sewer Water Total V VBond Sewer Redemption Water Total - Sewer Total Water Total FY89 Swplus , mmm 8,34 6 000 «. «..,«.. « „« „ « «.1..,.«.. 8 346 000 - 8 346 000 .,.«.. 1.,_.,.. L......,..,.«...»...« ,.«...».«,.....,..J » »..L., « .... ..............,..,..,,......«......«,.,«,..,«, ...,..,.....�.., «,.«....:, «,.,. 8 346 000 A...".." L""-«..«.......«".««,««.---- - 8 346 000 6/30/89 balance -- 8,346,000 - 8,346,000 - - - «.«.,”" 8,346,000 ..............,L - «....G «.,.,. 8,346,000 FY90 Sulus« _ - ^- "�, 714571572 6L7496588 707L9847�457,572 - - - 6,,Z42 588 707 984 7 457 572 15,095,588 707,984 15,803,572 6/30/90 balance -- - - 15,095,588 707,984 15,803,572 FY91 Withdrawal (7,479,525) (7,479,525) - (7,479,525) - - - (7,479,525) - (7,479,525) FY91 Surplus »_, ", 113361823,,, ,,« « 726543„ 1,2646280 „« 11 3 3 618 2 3, - - - 726543,,,, 264 280 16336,823” 6!30/91 balance — 7,688,606 1,972,264 9,660,870 - - - 7,688,606 ,, ,1 1,972,264 9,660,870 FY92 Withdrawal (8,324,047) (7,616,063) (707,984) (8,324,047) - - - (7,616,063) (707,984) (8,324,047) FY92 Surplus �— T 191123,958 13,756,487 _ 5L 367�471_• " 1911236,958 - - - 13,7566487 19,,1236958 6/30/92 balance — 13,829,030 6,631,751 20,460,781 - - 13,829,030 _SA3676471 6,631,751 _ 20,460,781 FY93 Withdrawal (10,000,000) (6,630,874) (3,369,126) (10,000,000) - - - (6,630,874) (3,369,126) (10,000,000) FY93 Surplus _mm _» 291758,124 27,7896285, 1,968,839 _296758,124 - - " "�« -• —Y' » 27 789 285 A...,A_,..,...,..,.5, 1 968 839 29 758 124 6/30/93 balance -- 34,987,441 5,231,464 40,218,905 - - 34,987,441 5,231,464 _1,464 ...............218,905 40,218,905 FY94 Withdrawal (13,000,000) (2,264,000) (10,736,000) (13,000,000) - - - (2,264,000) (10,736,000) (13,000,000) FY94 SuTlus 6/30«,:C,ba la...._,.,...._..�„t,,,_,A..,,. 6/30/94 balance 14 929 219 3 355 086 1l 574 133 ._.« A,,.«., L.. �.,_"...» L,._" L« «_....--"...J.......G....,... 14 929 219 «. - .,........,.............«,..,,,_".....----.. .... «_.........__,............, 086 .......« ...,«. G,.,..,.. I 1 574 133 �,..,_. 1....» 1.., ,_ ...............�L....,.L..... 14 929 219 36,078,527 6,069,597 42,148,124 - - - 36,078,527 6,069,597 42,148,124 FY95 Withdrawal (14,600,000) (10,600,000) ,(4,000,000) (14,600,000) _ - (10,600,000 (4,000,000) (14,600,000) F'Y95 S����RR11lus ......,....0195 34 541 493 »..,.A....,1_..« «» 28 113 438 6 428 055 ....3,59 1.,965..»._ G..». G.«._..,._..«_.. 34 541 493 t........,617.........................."....,"«"„"...«.« - _ - ... ................«.............« 28 113 438 6 428 055 34 541 493 bala".....,..,_ 6/30/95 balance -- 53,591,965 8,497,652 62,089,617 - _ , - - .,. .......,591,,,.........,....,«« 53,591,965 «,,..,....._.........62,08.9,61 8,497,652 .« 62,089,617 FY96 Withdrawal 0 - FY96 Surplus—•»,__• • »,31026,088 ..- ..____ ,. « "(2,707L38� 8,7336276 3 026 088 °_..r._..z....,, - - - 1.._._ 2 707 188 5 733 276 3 026 088 6/30/96 balance - -• 50,884,777 14,230,928 65,115,705 .,...L..._L_«._.........,...,.t.._..«.._«„_...L_...a._..- •" 50,884,777 14,230,928 65,115,705 FY97 Withdrawal (600,000) (600,000) - (600,000) - - - (600,000) - (600,000) FY97 S lus 18 375 082 ,.. «, 1 475 964 (100 882 1111 «,A,...,A_,_.__ _. »L..._. «. 1 375 082 «._�.. �___. I �OOOA000 «,_ «. Fl.; —_, %,mm 17r000z000 18 475 964 A 100 882 1. A_..a.,_ 18 375 082 6/30/97 balance — 51,760,741 14,130,046 65,890,787 17,000,000 - 17,000,000 _ « «G.,_».__.» 68,760,741 14,130,046 »,_.. « 82,890,787 FY98.Withdrawal (9,870,000) (8,940,000) (930,000) (9,870,000) - - - (8,940,000) (930,000) (9,870,000) FY_98 Surplus « — 17,983L254, • » —�-,w" , «..15L226 ,796 — :217561458 1769836254_ 15,226,796 26756,458.,.«.. 1769836254 6/30/98 balance -- 42,820,741 13,200,046 56,020,787 32,226,796 2,756,458 34,983,254 , . « ,75,047,537 15,956,504 91,004,041 FY99 Withdrawal (8,000,000) (6,820,000) (1,180,000) (8,000,000) - - - (6,820,000) (1,180,000) (8,000,000) FY99 Surplus _ ._,.., «�,....,. 8 025 474 ....,J,.«..l ....., - - «,,.,..,....».««...._.,_.....»,.,. ........ «,. «"« .............. « :. 8 105 033 ..,,A..,...,t... "1111. (79 559 8 025 474 »...........5..«.t «.,..� .. ....,...L.....G.,«.....,., 861056033 79 559 �...A...,,�..........,L. 8 025 474 6/30/99 balance -- 36,000,741 12,020,046 48,020,787 40,331,829 2,676,899 43,008,728 «,.., 76,332,570 .« 14,696,945 «_ »G «1,111, 91,029,515 FY00 Withdrawal 3,700,000 (2,590,000) (1,110,000) (3,700,000) - - - (2,590,000) (1,110,000) (3,700,000) FYOO .0 lus .».._«.,,ub-total. . «. «. «.«............,«,..,.. 16,115,117 « ». ...3 - - "_".,.,_.,"........,.._. «1111. - ».. «.,,.,..:.._..,._ 10,902957 ,._..«««.«..:»..__,,,»....._..... 5,212160 16115117 .r «.._ « «.. «... ».x_....x.«...... 10902957 L_. 5,212,160 16,115117 Sub -total — 3,4..,. 33,410,741 10,910,046 44,320,787 51,234,786 7,889,059 59,123,845 _......... ...«G «..._. « »,. 84,645,527 «... « «...,...... _1111., «.«............a, 18,799,105 «1,111. 103,444,632 Interest through FY99 7,505,000 - - - 7,038,000 467,000 7,505,000 7,038,000 467,000 7,505,000 Release from RR Rese 15,000,000 - - 10,000,000 5,000,000 15,000,000 10,000,000 5,000,000 15,000,000 Release from Ins Rese ....._.._._, ». »....,.,_,,,r7 640 000 ».« ...«_....,...:.__»,»......._«.-.«.._«...«......,:,»........._.«..«. 320 000 r.«.«.,.._.,.,.,.»., 320 000 640 000 J_.._......,.«,«..»...... z._,......._,.._.,— 320 000 A._.....«_,,.,«,.,,. 320 000 x,. 640 000 /30/-, 6/30 /00 Balance -- 33,410,741 10,910,046 44,320,787 68,592,786 13,676,059 82,268,845 102,003,527 _..........._..._._....L".....» 24,586,105 126,589,632 FY01 Withdrawal (2,000,000) - (2,000,000) (2,000,000) - - _ - (2,000,000) (2,000,000) 1991A defeasance (Jul (19,414,705) - - - (19,414,705) - (19,414,705) (19,414,705) - (19,414,705) 1992B defeasance(De (7,433,117) - - - (6,503,977) (929,140) (7,433,117) (6,503,977) (929,140) (7,433,117) FYOO -01 interest 5,259,979 - - - 5,169,197 90,782 5,259,979 5,169,197 90,782 5,259,979 FY01 Surplus __ . 20,7426059 156417,530 „_„ 5,3246529 ., 2067421059 __ _ _ _ _ _ _ _ 15,.4176530« 513241529 207426059 6/30/01 Balance -•- 48,828,271 14,234,575 63,062,846 47,843,301W 12,837,701mm 60,681,002 96,671,572 —« 27,072,276 123,743,848 FY02 Withdrawal (11,600,000) (6,728,000) (4,872,000) (11,600,000) - - - - (6,728,000) (4,872,000) (11,600,000) FY02 Surplus ... « ». «.......,.. ...«......,.««. .. «....,._......t.,..,... 4 673,332 «...,« .. (678 888 5 352 219 «,41 .,38 .. »14,714,7 «, « «... 4 673,331 «... «.J,..«, «,...,....... - .«.««,«•..«,..... .. .............«....... - «....... 1111 «,» »111«1.,, «.....�..,,..., (678 888) R..881..._1213212__ 4 673 331 6/30 /02 Balance - -- 41,421,383 14,714,794 56,136,177 47,843,301 12,837,701 60,681,002 ..,,«.«.....,_. 89,264,684 ....."A.«._L......".. 27,552,495 116,817,179 FY03 Withdrawal (14,690,934) (14,690,934) - (14,690,934) (14,690,934) 0 (14,690,934) Release from Oper Re: 5,000,000 - - - 3,750,000 1,250,000 5,000,000 3,750,000 1,250,000 5,000,000 Adjustments 15,405,000 - - - 13,479,000 1,926,000 15,405,000 13,479,000 1,926,000 15,405,000 February 2003 escrow (41,424,044) - - - (37,281,640) (4,142,404) (41,424,044) (37,281,640) (4,142,404) (41,424,044) FY03 «Surplus.,,,,” ..... 6/30/03 Balance 2 117 939 .. J...,,�.. «........... - - «........... « «, « « ............... «1111... «11,11..., - . «_,. «1111... (4t 1,606339) «. «. ,, 61278 271,,,,, ,,,, 2r1 «17+932 ....... -- 26,730,449 14,714,794 41,445,243 23,630,321 18,149,569 41,779,890 50,360,770 32,864,363 83,225,133 June20041)efeasance (7,572,024) - - - (3,542,385) (4,029,639) (7,572,024) (3,542,385) (4,029,639) (7,572,024) FY04 Surplus _ .,,..._...._._. 1 456 856 J.. «.,J..,_,..... - - _..-_«..........._« ..................__.._.._.,..,.,«......««,.«_«—...,..,.. - - 5,835 573 ._.�,__.....A.., «�. 7 288 427 1 452 854 «_ «_— .!.. « —t »1111 »... «1111.. «L___..L_..� 5 835 573 .,.,.. A.....« L..._» 7 288 427 1 452 854 L.«..1_,_. 6/30/04 Balance - -- 26,730,449 14,714,794 41,445,243 14,252,363 21,408,357 35,660,720 40,982,812 ,... «J_.__.1.,........._.._ 36,123,151 « «_. 77,105,963 FY05 Withdrawal FY05 Surplus 513326458 1,341 164 658 837 .,....a« «1,111,... «.. ........L .............. 2 000 000 .. L..,..,l ... «.« 2 234 706 ........J. «. «.... .,. «.. 110971782 ,36332!488 «. « «.. 365756870 - 1 756 619 5 332 488 6/30/05 Balance -- 28,071,613 15,373,631 43,445,243 16,487,069 22,506,139 38,993,208 . «, «1111 44,558,682 ....x......L..... _1111 « 37,879,770 «. .....L,... «G.... «.. 82,438,452 FY06 Withdrawal (25,169,948) (7,926,082) (2,813,866) (10,739,948) (8,167,380) (6,262,620) (14,430,000) (16,093,462) (9,076,486) (25,169,948) FY06 Su lus 6/30106 Balance 30,805,000 i - 25,079,375 5,725,625 30,805,000 25,079,375 5,725,625 30,805,000 20,145,531 12,559,764 32,705,296 33,399,064 21,969,144 55,368,208 ___53,544,595 34,528,908 88,073,504 i Attachment C vJ o 0, M °o�� 01 W U .-, c0 l� 00 10 M N 7 0 � O <t ti Zo N � w J, h h U M M pp p M N 0 M M n N [� D 00 N V h N hl N w �n rnho h V h O O O p N O P O <t ry b OK W M ry ^ N W h N_ O C p M d vl M Vl 00 M M O N W cn N > a h Jn co h N N O M N M NIn m It h lO w CY 00 M h d N h or T N M 0\ O h <t N N O a O O 01 O W ry 1 N In a M_ O 07 7 h � b 01 .� o N ^•� .n r 'n vi O O N W t CD IN •eNt M ° h 4 oo °N t3. O � rrJ N ^IN rn m U N r- O ✓3 Q w C p h V O N Cn O M 7 0` 0.i W O n M ID I n O, N J\ N r.� Q n-i M M b F 8 e C n c n o of rn J �C � W W h [ N 01 v O Q v N Q M b O 10 h v b W ^ ^ N W O N 10 � n M .-� In 10 � w P, a.c 00 M tV F C In a V. W 01 M oo 0, I p M h (V O q o� •D co F O A b oo ^ b O w rn d d � R O CCJ 5 p. O. � � a CL ^J. VJ C 14 1 HO C "`rPaUF�+ 4., U" Attachment C vJ o 0, M b h N 10 h ^o`OO 10 M N 7 0 F OU <t ti Zo N rtiy �' i W 0 ° N N N M M O N N Ki cn N hl w V oo O vJ y1 00 b M M h CO V1 `CY W h N_ O C M N W cn N W 0 W V L lO y N M h o0 N NIn VJ ,7 N M h lO w 00 M h d N N N M v l0 O 01 00 00 00 � N N -t vi Co W h 0 O M - 3•000rnM .� o N ^•� .n r 'n vi O Q tV W p. t� N O S O N U N rrJ N ^IN O ✓3 Q w C p h V O N Cn O M 7 0` 0.i O O n M ID I n O, N J\ N In N t� 'V M M ((F�� p M n hl h CO L1� IE1.1 W W M O h p h p n h O 10 O h o ••3^ O M N N � N ^ ^ N W � w � d C a V. ,C„ O rn � R O CCJ 5 � � a 14 1 "`rPaUF�+ Attachment C AS 77 ..1 7 �7 i Az v w u... �. Series 1990A 1991A 1992A 1992B 1993B 1993C 1994A 1995B 1996A 1997A &B 1997D 1998A 1998B 1998D 1999A &B 1999C &D 1999E 1999F 93A,93D,95A,98C 2000A 2000B &C 2000D 2000E 2001 A &B 2001 C &D 2002A 2002B 2002C -G 2002H 2002I 20027 2003A 2003B 2003C 2003D 2004A 2004B 2004C 2004D 2005A 2005B 2005C 2005D 2005E 2006A 2006B Total Estimated Principal Retired for 40 year debt (assuming level debt service) Attachment E Massachusetts Water Resources Authority Debt Issued, Refunded and Principal Paid 1990 to June 2006 Amount Amount Principal Total Issued Refunded Paid Outstanding $ 836,311,683. $ 740,801,683 $ 95,510,000 $ - $ 300,000,000 $ 278,980,000 $ 21,020,000 $ - $ 717,590,000 $ 283,500,000 $ 46,245,000 $ 387,845,000 $ 471,780,000 $ 459,825,000 $ 11,955,000 $ - $ 501,185,000 $ 452,865,000 $ 48,320,000 $ - $ 449,170,000 $ 185,110,000 $ 111,495,000 $ 152,565,000 $ 150,000,000 $ 129,485,000 $ 20,515,000 $ - $ 300,000,000 $ 198,810,000 $ 47,285,000 $ 53,905,000 $ 150,000,000 $ 128,175,000 $ 18,410,000 $ 3,415,000 $ 175,000,000 $ - $ 19,200,000 $ 155,800,000 $ 276,125,000 $ 138,070,000 $ 6,970,000 $ 131,085,000 $ 310,000,000 $ 127,905,000 $ 24,655,000 $ 157,440,000 $ 137,785,000 $ 31,900,000 $ 1,655,000 $ 104,230,000 $ 198,895,000 $ - $ - $ 198,895,000 $ 195,000,000 $ $ 17,000,000 $ 178,000,000 $ 150,000,000 $ - $ 12,200,000 $ 137,800,000 $ 22,760,118 $ $ 4,338,549 $ 18,421,569 $ 406,585,000 $ $ 56,030,000 $ 350,555,000 $ 55,055,000 $ - $ 27,635,000 $ 27,420,000 $ 285,000,000 $ 246,655,000 $ 9,535,000 $ 28,810,000 $ 270,600,000 $ - $ 4,000,000 $ 266,600,000 $ 150,000,000 $ 150,000,000 $ - $ - $ 90,224,772 $ 2,644,566 $ 10,044,233 $ 77,535,973 $ 180,000;000 $ - $ 7,900,000 $ 172,100,000 $ 30,314,896 $ 15,402,953 $ 2,584,973 $ 12,326,970 $ 25,000,000 $ 25,000,000 $ - $ - $ 180,000,000 $ 85,130,000 $ 5,870,000 $ 89,000,000 $ 430,000,000 $ - $ 1,700,000 $ 428,300,000 $ 124,800,000 $ - $ 9,540,000 $ 115,260,000 $ 2,674,891 $ - $ 184,959 $ 2,489,932 $ 600,410,000 $ - $ 9,015,000 $ 591,395,000 $ 1,532,040 $ - $ 177,662 $ 1,354,378 $ 4,565,916 $ 599,710 $ 3,966,206 $ 53,823,072 $ 3,186,223 $ 50,636,849 $ 165,000,000 $ 18,010,000 $ 3,355,000 $ 143,635,000 $ 130,000,000 $ 9,505,000 $ 1,120,000 $ 119,375,000 $ 65,255,000 $ $ - $ 65,255,000 $ 12,258,890 $ $ 202,591 $ 12,056,299 $ 78,307,270 $ $ 2,421,708 $ 75,885,562 $ 416,455,000 $ $ - $ 416,455,000 $ 80,290,000 $ $ - $ 80,290,000 $ 8,159,320 $ $ - $ 8,159,320 $ 81,597,385 $ $ $ 81,597,385 $ 497,744 $ $ $ 497,744 $ 200,000,000 $ $ $ 200,000,000 $ 286,320,000 $ $ $ 286,320,000 $ 9,756,327,997 $ 3,707,774,202 $ 661,875,608 $ 5,386,678,187 Principal Retired Percentage of Total Issued $ 866,075,000 Principal Retired by MWRA since 1990 $ 661,875,608 15% - i I1% Note: The average useful life of MWRA's debt financed assets is at least 40 years. Attachment F Massachusetts Water Resources Authority Actual and Projected Water Principal Payment Water Principal Water Principal 2006 12,246,335 2031 34,153,243 2007 16,672,029 2032 44,360,008 2008 20,717,661 2033 44,627,486 2009 25,923,503 2034 40,100,854 2010 29,864,933 2035 41,691,083 2011 32,071,307 2036 44,949,714 2012 44,206,790 2037 27,641,839 2013 40,937,387 2038 32,216,891 2014 38,242,324 2039 31,805,627 2015 40,182,793 2040 33,545,253 2016 44,842,221 2041 35,394,693 2017 53,231,563 2042 33,943,105 2018 59,090,297 2043 35,792,471 2019 52,103,795 2044 33,656,192 2020 52,317,055 2045 35,441,213 2021 115,703,394 2046 37,331,313 2022 75,803,154 2047 34,801,060 2023 88,554,711 2048 17,283,747 2024 86,792,388 2049 12,290,013 2025 81,399,026 2050 7,959,774 2026 86,043,024 2051 5,430,724 2027 91,162,993 2052 2,688,189 2028 90,456,456 2053 379,503 2029 68,683,027 2054 - 2030 48,018,858 2055 - PL4 W 'T4 El E-4 rX4 0 pl, 0 I ry w ry -r U z U) < CL w z C 0 H z 0 w W (n F- 0- > 0 0 FY 0 ry 0 U) -r o 0 C) 3: 3: z 0 w z LL F- U- U) z D CL < 0 < 0 z (D 5; w 0 Z v F Cl) - W w w U) UJ :D 0 F" co 0 w C) W j 00 CL w w w z < 0 w W 0 r-) z < z 0 w ui ry (D w LO Q� W 0 -j ry w 0 w w w U) z 0 U) w z w w 0 ry Q , 0 w � Q 0 z 0 :D z ryl w Q w U) w z w w ry z 0 U) z 0 z 0 W w w -j w 0 w w LL W > w Z 20 2 D w U) W CL Z LLz - 20 CY) U) 6cp (/) w < w < U) ry z o 0 U) lal -r tL I O w y i CL • • 2 i Q i� J i V L V L_ W to O N N r O .f-j U O 0 O p N E N U co L 4-a t6 0 co O .� t6 a) cn .� O .0 ttZ N m c cn cn :3 C6 cn cu N � cu :3 E O O' 7 Q E _ -a O N Q 0 CU O 4" CU to N N c4 .O -1-4 M O ! � O O O 0. 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L o O O: l0m, s N E N E v o z3 0 E U N (t1 CU (n a) # € U U O s: 2 ; '� :u n E 4O c cn - c: O'� O O� cU N � N N c6 L- L c —0 m c: '4 C E -0 -C O � .� U .0 �0 > a� ,V a) -0 Co O .0 a) O U N N 0) 4-j N "�" Q CL U cn ) U N C -0 a) cn<= OwmN m cn � cn a� � � n C- 0 0 0 0z30Q 00 m 4 � � � (6 tn_L j O_4- 0 C V O � Q N c: co N E N E4— E Cco (n U a) nco W c � Q C-10 U cu N cu 0 Q a) E E O CU cu 3t cn cu /mow W cn ' > "F-0 U L- 0) 'L- =3 CU -0 O m a) ' N 0 C Q � • CU O `� m cn E E -C 0 0 O (U E N N C: Cn cn'cu cu '0 CU cn CU N -0 L c6 U) 0-0 m C cu O �Q T 0 r Q CD C a) 4- I- o • M On motion by William C. Brown, Precinct 8, it was voted that this Special Town Meeting stand adjourned to meet at 7:30 p.m. at the Reading Memorial High School, on Thursday, June 15, 2006. Meeting adjourned at 11:07 p.m. 154 Town Meeting Members were present. A true copy. Attest: Che A. Johns n Town Clerk - 4 - Special Town Meeting June 12, 2006 SPECIAL TOWN MEETING Reading Memorial High School June 15, 2006 The meeting was called to order by the Moderator, Alan E. Foulds, at 7:47 p.m., there being a quorum present. The Pledge of Allegiance to the Flag was led by Moderator Alan E. Foulds. ARTICLE 4 — On motion by Ben Tafoya, member of the Board of Selectmen, it was moved that the Town vote to apply for admission to the Massachusetts Water Resources Authority Water System to receive from Massachusetts Water Resources Authority the entirety of the Town of Reading's public water supply in accordance with Chapter 372 of the Acts of 1984 of the Commonwealth; and that the Town appropriate, by borrowing, the sum of $8.6 million for the payment of entrance fees, costs of connection, demolition of the existing Water Treatment Plant and other modifications to the water distribution system, and other expenses for the same; and that the Treasurer, with the approval of the Board of Selectmen is authorized to borrow said sum pursuant to Mass. General Laws Chapter 44 or any other enabling authority; and that the Town vote to authorize the Board of Selectmen, acting as Water Commissioners, to take such actions necessary or required to apply for admission to and to receive the entirety of the Town of Reading's public water supply from the Massachusetts Water Resources Authority Water System, including, without limitation, filing legislation, payment of applicable fees and charges, and entering into an agreement with the Massachusetts Water Resources Authority as may be required or necessary to receive a supply of water at prevailing rates charged by the Massachusetts Water Resources Authority to communities in its water supply system. On motion by Michael F. Slezak, Precinct 6, it was moved to move the question. 2/3 vote required 100 voted in the affirmative 40 voted in the negative Motion to move the question carried. On main motion: 2/3 vote required 89 voted in the affirmative 53 voted in the negative Motion did not carry. ARTICLE 5 — On motion by Ben Tafoya, member of the Board of Selectmen, it was voted to table the subject matter of Article 5. ARTICLE 6 — On motion by James E. Bonazoli, member of the Board of Selectmen, it was moved that the Town vote to appropriate, by borrowing, the sum of $24.7 million for the purpose of making improvements to or replacing the Louanis Water Treatment Plant and related facilities by construction of a new facility and /or renovation of the existing facility, including the costs of engineering services, plans, documents, cost estimates, bidding services, construction management services, and all related expenses incidental thereto and necessary in connection therewith, said sum to be expended by and under the direction of the Town Manager; and, further, that the Treasurer, with the approval of the Board of Selectmen, is authorized to borrow said sum pursuant to Mass. General Laws Chapter 44 or any other enabling authority; and that the Town authorizes the Board of Selectmen, the Town Manager, or any other agency of the Town, to apply for a grant or grants, to be used to defray the cost of all, or any part of, said water system improvements, including but not limited to application for financing from the SRF program of the Commonwealth of Massachusetts Department of Environmental Protection; and that the Town vote to authorize the Town Manager to enter into any and all contracts and agreements as may be necessary to carry out the purposes of this Article. On motion by Joseph Westerman, Precinct 3, it was moved to move the question. 2/3 vote required 99 voted in the affirmative 41 voted in the negative Motion to move the question carried. On main motion: 2/3 vote required 51 voted in the affirmative 92 voted in the negative Main motion does not carry. ARTICLE 7 - On motion by Elaine L. Webb, Precinct 1, it was moved to table the subject matter of Article 7. Motion carried. ARTICLE 8 - On motion by Richard W. Schubert, Precinct 7, it was moved to table the subject matter of Article 8. Motion carried. ARTICLE 4 - On motion by Richard W. Schubert, Precinct 7, it was moved to reconsider the subject matter of Article 4. Motion carried. Harvey (Pete) J. Dahl, Precinct 7, requested a point of order to have Moderator explain "reconsideration." - 2 - Special Town Meeting June 15, 2006 William C. Brown, Precinct 8, made a motion requesting a roll call vote for reconsideration. Motion did not carry. ARTICLE 4 - On motion by Brian C. Snell, Precinct 4, it was moved to move discussion (the question) on reconsideration. 2/3 vote required 118 voted in the affirmative 20 voted in the negative Motion carried. Vote for reconsideration of ARTICLE 4 243 voted required 122 voted in the affirmative 20 voted in the negative Vote for Reconsideration carried. ARTICLE 4 — On motion by Michael F. Slezak, Precinct 6, it was voted to move the question. Counted vote 98 voted in the affirmative 40 voted in the negative Motion carried. On motion by William C. Brown, Precinct 8, it was requested that a roll call vote be taken. Motion did not carry. ARTICLE 4 — On motion by Ben Tafoya, member of the Board of Selectmen, it was voted that the Town vote to apply for admission to the Massachusetts Water Resources Authority Water System to receive from Massachusetts Water Resources Authority the entirety of the Town of Reading's public water supply in accordance with Chapter 372 of the Acts of 1984 of the Commonwealth; and that the Town appropriate, by borrowing, the sum of $8.6 million for the payment of entrance fees, costs of connection, demolition of the existing Water Treatment Plant and other modifications to the water distribution system, and other expenses for the same; and that the Treasurer, with the approval of the Board of Selectmen is authorized to borrow said sum pursuant to Mass. General Laws Chapter 44 or any other enabling authority; and that the Town vote to authorize the Board of Selectmen, acting as Water Commissioners, to take such actions necessary or required to apply for admission to and to receive the entirety of the - 3 - Special Town Meeting June 15, 2006 Town of Reading's public water supply from the Massachusetts Water Resources Authority -- Water System, including, without limitation, filing legislation, payment of applicable fees and charges, and entering into an agreement with the Massachusetts Water Resources Authority as may be required or necessary to receive a supply of water at prevailing rates charged by the Massachusetts Water Resources Authority to communities in its water supply system. 2/3 vote requested 113 voted in the affirmative 34 voted in the negative ARTICLE 5 — On motion by Ben Tafoya, member of the Board of Selectmen, it was moved to remove Article 5 from the table. Motion carried. ARTICLE 5 — On motion by Ben Tafoya, member of the Board of Selectmen, it was voted that the Town vote to authorize the Board of Selectmen to file a Home Rule Petition with the Great and General Court of the Commonwealth of Massachusetts which would provide legislative approval for the Town of Reading to purchase the entirety of its public water supply from the Massachusetts Water Resources Authority including to the extent possible expediting and/or waiving any or all other required approvals, notwithstanding any other law to the contrary. Counted vote required 127 voted in the affirmative 13 voted in the negative Motion carried. ARTICLE 7 — On motion by James E. Bonazoli, Precinct 6, it was moved to take Article 7 from the table. Motion carried. ARTICLE 7 — On motion by James E. Bonazoli, member of the Board of Selectmen, it was voted that the Town vote to amend the following votes taken under Article 15 of the Warrant of the Annual Town Meeting of April 24, 2006, and to appropriate the following sums by transfer from available funds as noted for the operation of the Town and its government: • Line J11 — Capital Project — Roadway Improvements — additional $29,705 from Sale of Real Estate Fund • Line L4 — Water Capital — additional $130,000 from Water Reserves • r ' ic r 4 Water_Capital additional $� 23 0 , 0 0 0 from Water- ReseYVes 2/3 vote required 137 voted in the affirmative 0 voted in the negative - 4 - Special Town Meeting June 15, 2006 ARTICLE 8 — On motion by Stephen A. Goldy, member of the Board of Selectmen, it was moved to take Article 8 from the table. Motion carried. ARTICLE 8 — On motion by Stephen A. Goldy, member of the Board of Selectmen, it was voted to authorize the Board of Selectman to acquire by purchase and/or eminent domain two parcels of land containing approximately 2.14 acres located on Main Street shown as Lots 2 and 16 on Board of Assessors' Map 237 currently believed to be owned by the estate of Richard A. Mattera, said land to be used for open space and conservation purposes in accordance with the provisions of Mass. General Laws Chapter 40, Section 8C; said land to be under the care, management and control of the Town of Reading Conservation Commission and further to be dedicated in perpetuity to the purposes stated in Article 97 of the Amendments to the Constitution of the Commonwealth of Massachusetts including the protection of water resources and said land shall be fully protected by all provisions of Article 97; and that the Town vote to appropriate by borrowing, the sum of $850,000 for the purchase and development of said property for the purposes outlined above including but not limited to all legal, surveying, appraisal and other expenses related to the acquisition; and including but not limited to improvement of building(s) and/or demolition of building(s), construction of driveways and parking, development of trails and other recreation improvements, development of screening and or fencing, and other similar and related costs; and that the Treasurer, with the approval of the Board of Selectmen, is authorized to borrow said sum pursuant to Mass. General Laws Chapter 44 or any other enabling authority; and to authorize the Board of Selectmen to enter into any and all agreements and contracts upon terms and conditions as they may determine to be necessary to carry out the acquisition and improvement of such parcel and the purposes of this Article, and to authorize the Board of Selectmen, Town Manager and/or the Conservation Commission or any other agency or official of the Town to apply for a grant or grants, including but not limited to a Self -Help Grant under Mass. General Laws Chapter 132A, Section 11, to be used to defray the cost of all, or any part of the purchase and development price for such parcel of land. 2/3 vote required 137 voted in the affirmative 3 voted in the negative ARTICLE 2 — On motion by Richard W. Schubert, member of the Board of Selectmen, it was moved to take Article 2 from the table. Motion carried. ARTICLE 2 — On motion by Richard W. Schubert, Precinct 7, it was moved to instruct the Board of Selectmen to take the following actions with respect to Reading's water supply: 1. To pursue relief for the cost of MWRA buy -in at the state level. - 5 - Special Town Meeting June 15, 2006 �: � •ten c>- � r a Ago f �f •`i Lam' �� 1 � f � �N r 1 � u � � a F' �� � a��� �C I '� �, ✓ aka �Sr �r � c� Q x a' IN 0 0 0 0 0 0 0 0 0 C) cY) cv L � o 0 Ol 00 00 • - to O CO U Q .- cr 00 co (1) 0 U L . _ O Q v) C/) 40. c) O m C/) p U .� o y.. Jc � .c C U s- U) p� —, n Q N- U - 0 W X d W 0 0 0 0 0 0 0 0 0 0 0 0 0 0 A �O ire i O W 0 V ca Q ■u� i CL A� W ii W W Q to v♦ ■ iL E O O LM r .O n M ■ T11 O ■� A i 'V L V Q aW 0 ■C W 'V ^V♦ W �C[ 'V V♦ Ma ZZ c� E tCt i V ON A 0 AE W O 0 0 O n LO d' 61% N ai ii x W A� A E CL ^O W W -, O I- V♦ W 0 O O O O O O to O 4 d- d. o o 00 00 N LO LO) r*4%M Cl d' W ■ ■ SIMON � V cu -- L m a) .c -' O MENEM � U _i C: Z3 m -� Co U 3 E _. 4) Co WOMEN S� 0 C. c c Cn _ Co Jc Co cn O W w 0 m :> H 3: Z Ol-- �- U) U) O — U C� Q Z M5 00 � J � W a w � o � z � Q . _ U) • CCS J 0 0 O LO d' C N Q O N J a 0 0 0 0 L^ N ch a� 0 0 N c� U O 91 N E� 0 O c� CO M 0 0 'a am ftwftft M O c� a� N N N a� U C/) tE co o `a U 4101 t �-J c 0 a • V 2. To lobby the MWRA to put conservation of its water source at the top of its list when considering new member communities rather than the current policy of generating revenue. 3. To lobby DEP in order to preserve future Ipswich River water rights. Motion carried. Elaine L. Webb, Precinct 1, wanted to acknowledge and thank Ted McIntire and Peter Tassi for their hard work in providing clean and safe water for the Town. On motion by Camille W. Anthony, Chairman of the Board of Selectmen, it was voted that this Special Town Meeting stand adjourned sine die. Meeting adjourned at 10:48 p.m. 154 Town Meeting Members were present. A true copy. Attest: Cheryl . Johns Town lerk - 6 - Special Town Meeting June 15, 2006