HomeMy WebLinkAbout1999-10-28 Finance Committee MinutesFinance Committee/Board of Selectmen Meeting
Executive Session
October 28,1999
The meeting was convened at the Senior Center, 49 Pleasant Street, Reading, Massachusetts.
Present were Chairman Sally Hoyt, Vice Chairman Matthew Nestor, Secretary George Hines,
Selectman Matthew Cummings, Chief Marchand, Town Manager Peter Hechenbleikner, Finance
Committee members Carol Grimm, Catherine Martin, Robert LeLacheur, Paul Kurker, Charles
Robinson, Richard McDonald, Jarnes Francis, Mary Grimmer and Neil Cohen.
On motion by Francis seconded by Martin, the Finance Committee on a roll call vote voted to go
into Executive Session for the purpose of discussion of litigation not to come back into Open
Session.
On motion by Cummings seconded by Nestor, the Board of Selectmen voted on a roll call vote
with four members voting in the affirmative to go into Executive Session for the purpose of
discussion of litigation, not to come back into Open Session.
Both groups went into Executive Session at 9:45 p.m.
The Town Manager presented the reserve fiend transfer request in the amount of $25,000 for
settlement of the Spadafora case. The total settlement is $50,000 with $25,000 corning from
insurance and $25,000 directly from the Town. This will settle all matters with regard to
Spadafora.
Questions were raised with regard to the deductible on the insurance, whether this was a
reasonable costs for settlement, whether this will set a precedence for settling cases with
payment from the reserve fund, whether the action could be deferred until Town Meeting, and
other questions.
Members of the Board of Selectmen indicated that they did not like settling cases in this manner,
but it was in the best interest of the Town financially to do so. The offer to settle expired on the
29`h if not accepted by the Town. Matt Nestor noted that this is a very cost effective settlement
on a case that, assuming the worse of the facts, could upwards of $250,000.
Following further discussion, on motion by Francis seconded by Martin, the Finance Committee
voted to transfer the sum of $25,000 to the legal account on a roll call vote with all nine members
voting in the affirmative.
On motion by Cummings seconded by Hines, the Board of Selectmen adjourned at 10:15 p.m. on
a roll call vote with all four members voting in the affirmative.
On motion by Kurker seconded by Cohen, the Finance Committee voted to adjourn at 10:15 p.m.
on roll call vote with all nine members voting in the affirmative.
s ectfully u mitted,
retary