STM 2016-5 Article 4: Supplemental Appropriation for School Facilities Capital Projects

Article 4: Supplemental Appropriation for School Facilities Capital Projects
MOTION: That the Town appropriate $910,000, in addition to the amount voted under Article 2 of Special Town Meeting-1 held on November 2, 2015, for the purchase and installation of six modular classrooms, and that to raise such amount the Treasurer, with the approval of the Board of Selectmen, is authorized to borrow $910,000 under M.G.L. Chapter 44, Section 7, as amended, or any other enabling authority. Any premium received by the Town upon the sale of any bonds or notes approved by this vote, less the cost of preparing, issuing and marketing them, and any accrued interest received upon the delivery of such bonds or notes, may be applied to the payment of project costs approved by this vote, thereby reducing the amount authorized to be borrowed to pay such costs by a like amount.
Moved by SC Chair Hurley. Asks to have Report of the SC received and placed on file. TM is Unanimous.
Hurley asks Town Mod to recognize Pat Goddard, Director of Facilities. She does.
Goddard presents a quick review of background to TM:

Project Cost, After Bids: $4,430,000
Previously Appropriated: $3,000,000
Supplement Required now: $1,430,000
Available, STM-1, Art. 2 (Hastings w/out MSBA): $520,000
Net Additional Appropriation: $910,000

Board of Selectmen: Unanimously in support
CEC: 4-0 in support for needed project
AC: Supports by a vote of 7-0

Town Mod opens for questions from TMMs

Town Mod calls for vote - requires 2/3 majority vote in order to pass
Yes: 134
No: 3
Abstain: 1

The MOTION carries