Stoneham Board of Selectmen – Minutes of Meeting of June 3, 2010
Chairman R. Paul Rotondi called the meeting to order at 5:00 p.m. Also present were Selectmen Robert W. Sweeney and Frank Vallarelli, Town Administrator David Ragucci, and Town Counsel William H. Solomon. Selectmen John F. DePinto and Richard S. Gregorio were unable to be present.
Pledge of Allegiance
Approve General Obligation Municipal Purpose Loan of 2010 Bonds/Town Treasurer
Selectman Vallarelli moved that the negotiated sale of $85,000 State House Serial Loan Notes of 2010 Bonds of the Town through First Southwest, acting as our agents, dated June 1, 2010 (the "Bonds"), to Eastern Bank for 4.75% for six years payable semi-annually is hereby approved and confirmed. Motion was seconded by Selectman Sweeney and unanimously voted (3-0).
Selectman Vallarelli moved that the maximum useful life of the departmental equipment listed below to be financed with the proceeds of the $65,000 borrowing authorized by the vote of the Town passed May 8, 2008 (Article 27) is hereby determined pursuant to G.L. c.44, §7(9) to be as follows:
Purpose Borrowing Amount Maximum Useful Life
Rink Boards and Glass $65,000 11 years
and further moved that the sale of the $1,005,000 General Obligation Municipal Purpose Loan of 2010 Bonds of the Town dated June 1, 2010 (the "Bonds"), to Roosevelt & Cross, Inc. at the price of $1,040,000.13 and accrued interest is hereby approved and confirmed. The Bonds shall be payable on June 1 of the years and in the principal amounts and bear interest at the respective rates, as follows:
Interest Interest
Year Amount Rate Year Amount Rate
2011 $50,000 2.00% 2018 $60,000 5.00%
2012 50,000 2.00 2019 60,000 5.00
2013 50,000 2.00 2020 50,000 5.00
2014 50,000 2.00 2021 50,000 5.00
2015 45,000 2.25 2025 200,000 3.75
2016 50,000 5.00 2030 230,000 4.00
2017 60,000 5.00
and further moved that the Bonds maturing on June 1, 2025 and June 1, 2030 (each a "Term Bond") shall be subject to mandatory redemption or mature as follows:
Term Bond due June 1, 2025
Year Amount
2025* 50,000
*Final Maturity
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Term Bond due June 1, 2030
Year Amount
2026 $50,000
2027 50,000
2028 50,000
2029 40,000
2030* 40,000
____________
*Final Maturity
and further moved that in connection with the marketing and sale of the Bonds, the preparation and distribution of a Notice of Sale and Preliminary Official Statement dated May 24, 2010, and a final Official Statement dated June 2, 2010 (the "Official Statement"), each in such form as may be approved by the Town Treasurer, be and hereby are ratified, confirmed, approved and adopted.
and further moved that the Bonds shall be subject to redemption, at the option of the Town, upon such terms and conditions as are set forth in the Official Statement.
and further moved that the consent to the financial advisor bidding for the Bonds, as executed prior to the bidding for the Bonds, is hereby confirmed.
and further moved that the Town Treasurer and the Board of Selectmen be, and hereby are, authorized to execute and deliver a continuing disclosure undertaking in compliance with SEC Rule 15c2-12 in such form as may be approved by bond counsel to the Town, which undertaking shall be incorporated by reference in the Bonds for the benefit of the holders of the Bonds from time to time.
and further moved that each member of the Board of Selectmen, the Town Clerk and the Town Treasurer be and hereby are, authorized to take any and all such actins, and execute and deliver such certificates, receipts or other documents as may be determined by them, or any of them, to be necessary or convenient to carry into effect the provisions of the foregoing votes.
Motion was seconded by Selectman Sweeney and unanimously voted (3-0).
Appoint Member to School Building Committee
Selectman Vallarelli moved to appoint David Bois to the School Building Committee, seconded by Selectman Sweeney. Motion was unanimously voted. Selectman Sweeney moved to appoint Joseph MacKay to the School Building Committee, subject to getting his letter forwarded. Motion was seconded by Selectman Vallarelli and unanimously voted.
RCN Cable License/Town Counsel
Selectman Sweeney moved to vote a preliminary assessment that the cable franchise (license) of RCN-BecoCom, Inc. (formerly RCN-BecoCom L.L.C.) should not be renewed on the grounds that: (i) the cable operator has not substantially complied with the material terms of the existing franchise (license) and with applicable law; (ii) the
June 3, 2010 – Page (3)
cable operator does not have the financial, legal and technical ability to provide the services, facilities, and equipment as set forth in the operator's proposal; and/or (iii) the cable operator's proposal is not reasonable to meet the future cable-related community needs and interests, taking into account the cost of meeting such needs and interests. Motion was seconded by Selectman Vallarelli and unanimously voted (3-0).
Approve New Common Victualler License/Oliveira & Parisotto, Inc. d/b/a PizzaMia/67 Franklin St
Selectman Vallarelli moved approval of a New Common Victualler License for Oliveira & Parisotto, Inc. d/b/a PizzaMia at 67 Franklin Street, seconded by Selectman Sweeney. Motion was unanimously voted.
Approve Block Party/Philips Rd
Selectman Vallarelli moved approval of the Block Party on Philips Road, subject to Police approval. Motion was seconded by Selectman Sweeney and unanimously voted (3-0).
Liquor Licensing Authority
Selectman Vallarelli moved to go into Liquor Licensing Authority, seconded by Selectman Sweeney. A roll call vote was taken.
Voting in favor:
Selectman Sweeney
Selectman Vallarelli
Chairman Rotondi
Motion was unanimously voted.
Meeting recessed at 5:14 p.m. to go into Liquor Licensing Authority.
Meeting reconvened at 5:16 p.m.
Miscellaneous Correspondence
Town Administrator Ragucci said the feasibility study on 911 is done and it will cost $100,000 a year to do a regional dispatch. Mr. Ragucci said Atty. Houghton is representing Alan Melkonian, who purchased Merle Eastman's property. He said he wants to lease the bikepath. Mr. Ragucci asked the Board to vote on it. Selectman Sweeney moved to lease that portion of the bikepath, seconded by Selectman Vallarelli. Motion was unanimously voted. Selectman Vallarelli noted the letter from Juliana's regarding Washington and Elm Street. He also said one of the signs is right in front of someone's house.
Selectman Sweeney moved to adjourn, seconded by Selectman Vallarelli. Motion was unanimously voted (3-0).
Meeting adjourned at 5:23 p.m.
Respectfully submitted,
Muriel Doherty
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