Article 14

ARTICLE 14

(Appropriation:  Supplemental Funding for Construction of Nobadeer Field House)

To see what sum the Town will vote to appropriate, and also to raise, borrow pursuant to any applicable statute or transfer from available funds, to be spent by the Town Manager with the approval of the Select Board, to pay supplemental costs of designing, constructing, equipping and furnishing a field house to be located at Nobadeer Fields, and for the payment of all other costs incidental and related thereto; provided, however, that any borrowing authorized hereunder shall be contingent on the passage of a Proposition 2½ debt exclusion vote; or to take any other action related thereto.

 

(Select Board)

FINANCE COMMITTEE MOTION:  Moved to appropriate the sum of One Million Dollars ($1,000,000) to be spent by the Town Manager with the approval of the Select Board, for the purpose of designing, constructing, equipping and furnishing a field house to be located at Nobadeer Fields, and for the payment of all other costs incidental and related thereto; that to meet this appropriation, the Treasurer with the approval of the Select Board, is hereby authorized to borrow the sum of One Million Dollars ($1,000,000) pursuant to General Laws Chapter 44, Sections 7 or 8, or any other enabling authority, and to issue bonds and notes of the Town therefor; provided, however, that any borrowing authorized hereunder shall be contingent on the passage of a Proposition 2½ debt exclusion vote. Any premium received by the Town upon the sale of any bonds or notes approved by this vote, less any such premium applied to the payment of the costs of issuance of such bonds or notes, may be applied to the payment of costs approved by this vote in accordance with Chapter 44, Section 20 of the General Laws, thereby reducing the amount authorized to be borrowed to pay such costs by a like amount.

 

Quantum of vote required for passage of the motion is 2/3