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HomeMy WebLinkAbout1939-06-14 Finance Committee MinutesMeeting of the Finance Committee, June 14, 1939. The meeting opened at 7.10 o'clock. The records of the last meeting were read and approved; The Municipal Light Board first appeared, Chairman Johnson, Mr. Ellen- wood and Supt. Sias. Article 3 of the warrant for a special To n Meeting to be held Jlrae 20th was first taken up. Chairrman. Johnson, spoke relative to quarters for the Light Department. He presented the :Mack's Block property so- called, and showed plans of the land and also the floor plan of a proposed_ building for offices and show room. he stated. that the property as it now stands could be bought for J12,000.00 and it was proposed to retain the westerly end of the building, part of which is now under lease, together with the cottage house on Green Street, and apple to rents toward the carrying charges on the entire property. The estimated cost of the completed building together with repairs to the rented portion was 2L,000 makin€, a total to be raised by bond issue of 036,000.00 and the r eco menda- tion was that this amount be borrowed over a period of twenty years, Elf, Sias submitted a statement covering the entire proposition together with figures covering outlays and income which are attached to and become a. part of this report. Mr. Johnson stated that in the Opinion of the Board the above proposition would be more advantageous to the town than would have been the purchase of the Gould Street property, and urged the members of the Finance Committee to support this latter plan. in executive session the following votes were passed.. Art. 2. It was ;noted to recommend the appropriation of 189.37 from the World , r- r Memorial Fund and authorize a transfer to the orl.d War Memorial dedication Account, Art. 3. It was voted to recommend the purchase of the Black's Block property so-called, and the construction and equipment of a suitable build- ing for the Electric Light Department at a total cost not to exceed 136,000, to be borrowed over a period of 20 ;years; and to authorize the Municipal Light Board to let or lease a portion of the premises so acquired and to make necessary alterations and repairs to same and assume control, operation and improvement of such premises. Art. 4. Recommend appropriation of 04,000 for the `snow and. ice Account 1189472 of same to balance deficit in said account, Art. 5. Recommend appropriation of -78 the a~naux~,v rcc~. f0 -jp fire loss o_.;.. ~."1e'r , nrtma_:1 t building. Adjourned m Members present: Chm. Devaney, Curreil, Newell., sober ts, Trevor. Ellison, Folsom, Goldsmith, Merrill, Clerk. TOWN WARRANT Commonwealth of Massachusetts 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, qualified to vote in elec- tions and town affairs, to meet in Security Hall, Woburn Street, in said Reading on TUESDAY, THE TWENTIETH DAY OF JUNE, A. D. 1939 at seven forty five o'clock in the evening, daylight saving time, to act on the follow- ing articles: Article 1. To hear and act on the reports of Town Officers and special com. mittees and to choose all necessary committees and determine what instructions, if any, shall be given Town Officers and special committees. Article 2. To see what sum the Town will appropriate from available funds for the dedication of the World War Memorial or what it will do in War Memorial t Committee. Article 3. To see what sum the Town will raise by borrowing or otherwise and appropriate for the acquisition by purchase, eminent domain, lease or otherwise of laid and buildings suitable for the offices and showrooms of the Electric Light Department and the construction and equipment of the necessary buildings or the remodeling, repair or improvement of such buildings or structures, and to see if the Town will vote to let or lease any portion of the premises so acquired, and what action will be taken relative to the control, operation and management of such premi- ses, or what it will do in relation thereto. Municipal Light Board. Article 4. To see what sum the Town will raise and appropriate for the Snow and Ice Account, or what it will do in relation thereto: Board of Public Works. Article 5. To see what sum the Town will appropriate from available funds for the Water Department, or what it will do in relation thereto. Board of Public Works. 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 20th the date set for the meeting in said warrant and to publish this warrant in the Read- ing 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 twelfth day of June, A. D. 1939. CARL W. GOODRIDGE NEWELL H. MORTON ROBERT E. FOWLE Selectmen of Reading. A true copy. Attest. Constable of Reading.