Town of
Special Town Meeting
October 26, 2006
Mary Stanton, Town Clerk,
called the Special Town Meeting to order at 7:30 p.m. in the Council Chambers
of the
Mayor Betsy Paterson nominated Bruce Clouette. Hearing no additional nominations the Town Clerk declared Mr. Clouette as Moderator.
Mr. Clouette requested a motion to waive the reading of the Notice of the meeting as published and posted. Motion so made by Ms. Paterson, seconded by Chris Paulhus and passed by all.
Mr. Clouette indicated that since the Town Council has removed the resolution to be presented under item 1 of the Notice to referendum vote, the Town Meeting will be adjourned to referendum vote after introduction and discussion of the resolution.
The Town Clerk noted that copies of the entire resolution are available for the public. Mr. Paulhus moved to waive the reading of the resolution and that the full text of the resolution be incorporated into the minutes of the meeting. Seconded by Ms. Paterson the motion passed.
RESOLUTION APPROPRIATING $200,000 FOR INSTALLATION OF AIR CONDITIONING IN THE MANSFIELD COMMUNITY CENTER GYMNASIUM, AND AUTHORIZING THE ISSUE OF BONDS, NOTES AND TEMPORARY NOTES IN THE SAME AMOUNT TO FINANCE THE APPROPRIATION.
RESOLVED,
(a) That the Town of Mansfield appropriate TWO HUNDRED THOUSAND DOLLARS ($200,000) for costs related to installation of air conditioning in the Mansfield Community Center gymnasium and to the financing thereof, and related building improvements. The appropriation may be spent for design, acquisition and installation costs, equipment, materials, consultants’ fees, legal fees, net temporary interest and other financing costs, and other expenses related to the project. The Town Councilis authorized to determine the scope and particulars of the project and may reduce or modify the scope of the project; and the entire appropriation may be spent on the project as so reduced or modified.
(b) That the Town issue
its bonds or notes, in an amount not to exceed TWO HUNDRED THOUSAND DOLLARS
($200,000) to finance the appropriation for the project. The bonds or notes shall be issued pursuant
to Section 7-369 of the General Statutes of
(c) That the Town issue and renew temporary
notes from time to time in anticipation of the receipt of the proceeds from the
sale of the bonds or notes for the project.
The amount of the notes outstanding at any time shall not exceed TWO
HUNDRED THOUSAND DOLLARS ($200,000). The
notes shall be issued pursuant to Section 7-378 of the General Statutes of
(d) The Town Manager, the Director of Finance and the Treasurer, or any two of them, shall sign any bonds, notes or temporary notes by their manual or facsimile signatures. The law firm of Day, Berry & Howard is designated as bond counsel to approve the legality of the bonds, notes or temporary notes. The Town Manager, the Director of Finance and the Treasurer, or any two of them, are authorized to determine the amount, date, interest rates, maturities, redemption provisions, form and other details of the bonds, notes or temporary notes; to designate one or more banks or trust companies to be certifying bank, registrar, transfer agent and paying agent for the bonds, notes or temporary notes to provide for the keeping of a record of the bonds, notes or temporary notes; to designate a financial advisor to the Town in connection with the sale of the bonds, notes or temporary notes; to sell the bonds, notes or temporary notes at public or private sale; to deliver the bonds, notes or temporary notes; and to perform all other acts which are necessary or appropriate to issue the bonds, notes or temporary notes.
(e) That the Town hereby declares its official intent under Federal Income Tax Regulation Section 1.150-2 that project costs may be paid from temporary advances of available funds and that the Town reasonably expects to reimburse any such advances from the proceeds of borrowings in an aggregate principal amount not in excess of the amount of borrowing authorized above for the project. The Town Manager, the Director of Finance and the Treasurer, or any two of them, are authorized to amend such declaration of official intent as they deem necessary or advisable and to bind the Town pursuant to such representations and covenants as they deem necessary or advisable in order to maintain the continued exemption from federal income taxation of interest on the bonds, notes or temporary notes authorized by this resolution, if issued on a tax-exempt basis, including covenants to pay rebates of investment earnings to the United States in future years.
(f) That the Town Manager, the Director of Finance and the Treasurer, or any two of them, are authorized to make representations and enter into written agreements for the benefit of holders of the bonds, notes or temporary notes authorized by this resolution to provide secondary market disclosure information, which agreements may include such terms as they deem advisable or appropriate in order to comply with applicable laws or rules pertaining to the sale or purchase of such bonds, notes or temporary notes.
(g) That the Town Manager, the Director of Finance, the Treasurer and other proper officers and officials of the Town are authorized to take all other action which is necessary or desirable to complete the project and to issue bonds, notes or temporary notes to finance the aforesaid appropriation.
Ms. Paterson made a motion to move the resolution under Item 1 on the Notice of the meeting. Mr. Paulhus seconded the motion. The motion passed.
Mr. Clouette called for discussion of the resolution.
Mr. Paulhus moved to adjourn the meeting. Seconded by Ms Paterson the motion passed.
The meeting was adjourned at 7:48 p.m.
Mary Stanton
Town Clerk