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Home My WebLink About1939-05-31 Finance Committee MinutesMeeting of the Finance Committee May 31, 1979- The meeting was called to order by the Chairman at. 7*05 o 3 clock. The records of the last meeting were read and approved. _t.tJ 7_n?:ci:dal Light Board was first heard, Chm. Johnson, Evans, Allenwood and Supt. Sias. Mr. Johnson again presented the matter of t~.ie new location for the Municipal .eight, Department and stated that the Gould Street property so-called was the unanimous choice of the Board although one member was of the opinion that a. new building should be built instead of remodelling and adding to the present structure. He stated that the property as it now stands could be bought for 49,000.00 and that the Board had obtained an estimate of i12,000,00 for alterations and additions to the building substan.t illl rtr as shown on the plain submitted. tV+_r. Joh?nson also reported the result of an investigation of property; on the northerly side of haven Street about opposite the proposed location and stated that while certain parcels could be purchased at a fair price, the buildings were not at all suitable for the .purpose required. The Black's Block property so-called was also investigated and Mr. Sias re- ported as to the purchase of this property, but stated that in his opinion it would _ra.ot be feasible to adapt the building for the Light Department uses m The Board stated that it was their plan to borrow the money needed over a. period of ten years, -here was a full and free discussion of the entire situation. Many questions tier:.; as.,-re,a as answered. The matter of t'_n._e desirability of continuing the retail store was discussed and Mr, Sias submitted a schedule showing the estimated kilowatt hours used per year by appliances sold by the Light Department during the gears 1929 to 1938 inclusive; and also the estimated annual revenue, He stated t'r.?.at in view of these figures it was quite plain the sale of appliances by the Department was a revenue producing factor. The Board of Registrars appeared next, Chairman McKenney, 1'.!=r Keneely an Mr. Charles, Clerk. The Jha__rman stated that ..1,,000.00 would be. needed to publish a street list as in former years and felt that the citizen were entitled to the list and hoped that the Committee would see fit to recommend the appropriation. `°lir. Charles also sp_ ole strongly in favor of its publication, Art. 2... The Board of Selectmen next appeared., Chairman Goodridge and Mr. lorton. Ile Chairman stated that in the Judgment of the Selectmen the 13,000 Story Damage Loan should be refunded to coves a. period of fire years pa-F able J , 000 in !9 0, 3, 000 in 1941, -2, 000 in. each of the ;-ears 1942-~19~,-~j°~ J4t; and that the Light Department would request that the 12q,000 Loan be refunded to cover a. period of ten Years payable 13,000 each year for the years 1940 to 19144, both inclusive, and ;';;2, 000 1945 to 1949 both inclusive. Art, Requested, that the Committee recommend rescinding the previous vote and raise and appropriate 40, b00 w0 for :brat ?.ring Debt in 1939, not including Light and Water Loans. tarts 4- W.P*A. Materials. The Chairman submitted a budget prepared by the Sponsor's Agent for W.P.A. activities from January I to December 31, 1939; also a schedule of expenditures from November V1938 to May 31, 1939. !'':±r, Goodrzdge stated that it was estimated about '01)31,000 would be needed to carry on G` .P.A,® projects to June 300 1940, or 24,000.00 to March 31, 1940. He ?rent into detail regarding W.P.A. projects and spoke of the laying off of some of the workers although reading had fared much better than neighbor- ing towns in this respect. He stated that this town was considered favor- ably on account of furnishing of material for various projects, Meeting May 31 1939, Continued, Arta 5. The Chairman stated that in the opinion of the Selectmen the !-ourn arm Building should be demolished unless it could be sold and removed at no expense to the `.down, He stated that it probably could be demolished as a Z oP.A. project. In executive session the following votes were passed Art. 2. It was voted to recommend that the loanns of 813,000 and 125000 for Emergency Storm. Damage be refinanced, the 013,000 over a period of five nears; and the $25,000 over a period of ten years. Art, Voted to recommend rescinding previous vote and appropriating $40,600 for Maturing .debt. Art, it was voted to recommend borrowing of ~24,000 for W.F.A. Expense. Art, 5• Voted to recommend that the own. Orm, Building be sold or demolished Art. 6o It was voted to recommend that the Municipal Light Department be authorized to expend 417,000 for the purchase of the Gould Street property so called; mad for remodelling;, repairing and improving the same, the money to be raised by bond issue covering a period of ten. ,rears. Unanimous voted Art- 7, Recommend approving petitioning the General Court for necessary legislation to be submitted to the waters at a meeting subsequent to September 1, x_939 Art, So Voted to recommend appropriation of 1250.00 to publish a street list for 1939- Adjourned 10,15 P.M. Members present: Clam.. Devaney, Connelly, Carrell, Davis, Ella son, Goldsmith, Kimball, Newell, Roberts, Sturges, Trevor. Clerk. To either of the Constables of the Town of Reading, Greeting: In the name of the Commonwealth of Massachusetts, you are hereby required to notify and warn the inhabitants of the Town of Reading, quali- fied to vote in ,elections and town affairs, to meet in Security Hall, Woburn Street, in said Reading on MONDAY, THE FIFTH DAY OF JUICE, A. D., 2939 at seven forty-five o'clock in the evening, to act on the following articles: Article 1. To hear and act on the reports of Town Officers and special committees and to choose all necessary Committees and determine what instructions, if any, shall be given Town Officers and special com- mittees. Article 2. To see if the Town will vote to authorize the Treasurer to refund in accordance with the provisions of Chapter 63 of the Acts of 1939 the emergency storm damage loans for $13,000 and $25,000 authorized under vote of the Town on October 20, 1938 and December 22, 1938 re- spectively, or what it will do in relation thereto. Board of Selectmen. Article 3. To see if the Town will rescind the vote of the Town passed at the Annual Meeting held on March 13, 1939, appropriating the sum of fifty-three thousand six hundred dollars ($53,600.00) for Maturing Debt and to see what sum the Town will vote to raise and appropriate for Maturing Debt, for the year 1939, or what it will do in relation thereto. Board of Selectmen. Article 4. To see what sum the Town will raise and appropriate for W. P. A. Expenses, including administrative, truck hire, equipment and materials and authorize the Treasurer, with the approval of the Selectmen, to borrow under authority of and in accordance with the provisions of Chapter 72 of the Acts of 1939, or what it will do in relation thereto. Board of Selectmen. Article 5. To see if the Town will vote to authorize and empower the Board of Selectmen to sell, remove from the present site, demolish or otherwise dispose of the Town Farm Building located on the Easterly side of Pearl Street, and to make an appropriation therefor, and to sell, remove or otherwise dispose of the furnishings and personal property located therein, upon such terms and conditions as they may determine, or what it will do in relation thereto. Board of Selectmen. "Article 6. To see what sum the Town will raise by borrowing or otherwise and appropriate, for the acquisition by purchase, eminent do- main, lease or otherwise of land and buildings suitable for providing quar- ters for the offices and show rooms of the Electric Light Department and the remodelling, repair or improvement of any buildings or structures so acquired, or what it will do in relation thereto. Municipal Light Board. Article 7. To see if the Town will vote to authorize the Special Drainage Committee to petition the General Court for special legislation providing for the drainage of the low area situated in the Town adjacent to Lake Quannapowitt and to ratify and confirm any action of the Special Committee or the members thereof, relating to the filing of such petition with the General Court, or what it will do in relation thereto. Special Drainage Committee. Article 8. To see if the Town will vote to raise and appropriate or appropriate from available assets, the sum of one thousand dollars ($1,000.00) to publish a street list for the year 1939, or what it will do in relation thereto. . Board of Registrars. And you are directed to serve this warrant by posting an attested copy thereof in at least ten public places in the town not less than seven days prior to June fifth, the date set for the meeting in said warrant and to publish this warrant in the Reading Chronicle one day at least prior to said date. 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 twenty-sixth day of May, A. D. 1939. CARL W. GOODRIDGE NEWELL H. MORTON ROBERT E. FOWLS Selectmen of Reading. A true copy. Attest: