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STATE OF CONNECTICUT
TOWN OF GREENWICH
A regular Representative Town Meeting of the Town of Greenwich will be held in the Moderator’s Hall of Central Middle School on Monday May 12,2008 at 7:00 P.M.(E.D.T.) for the following purposes:
1. To consider an act upon the following resolution.
Referred to Legislative and Rules Committee
2. To consider and act upon the following resolution.
Referred to Legislative and Rules Committee
3. To consider and act upon the following resolution, requested by the Superintendent of Schools and approved by the Board of Education and the Board of Estimate and Taxation.
Referred to Education Committee
Referred to Finance Committee
4. To consider and act upon the following resolution.
To act upon the appropriations recommended by the Board of Estimate and Taxation for the expenses and conduct of the affairs of the Town of Greenwich, Connecticut for the fiscal year 2008-09; i.e. July 1, 2008 to June 30, 2009 inclusive as follows:
$ 355,788,900 for the General Fund and Capital Projects Fund of the Town
$ 6,364,932 for the Sewer Maintenance Fund of the Town
$ 5,152,000 for the Sewer Improvement Fund of the Town
$ 4,758,032 for the Parking Fund of the Town
$ 362,949 for the Parking Fund – State Portion
$ 4,093,497 for the Public School Program Revolving Fund of the Town
$ 1,813,504 for the Griffith E. Harris Golf Course Revolving Fund of
the Town
$ 6,000,000 for the Other Post Employment Benefits Fund of the Town
WHEREAS, the Charter of the Town of Greenwich (the “Charter”) requires that on or before the 15th day of May in each fiscal year, the Board of Estimate and Taxation shall make and file in the Office of the Town Clerk a Detailed Statement of Appropriations, with its reasons for said Appropriations, which it deems necessary: (a) to meet the expenses and to conduct the affairs of the Town of Greenwich for the ensuing Fiscal Year, that is to say, for the Fiscal Year July 1, 2008 to June 30, 2009 inclusive; (b) for the operation, maintenance and repair of the Sewers and Sewer Systems of the Town of Greenwich for said period; (c) for the operation, maintenance and repair of on-street and off-street parking facilities for the Town of Greenwich for said period; (d) for the operation of the Public School Lunch Program Revolving
Fund; (e) for the reserve fund for Capital and Non-Recurring Expenditures ; (f) for the operation, maintenance and repair of the golf course facility; and (g) for the Other Post Employment Retirement Benefits Fund; and
WHEREAS, the said Board has filed on or about May 1, 2008 in the Office of the Town Clerk a Detailed Statement of such Appropriations contained in a document designated as “2008-09 Proposed Budget”; and
WHEREAS, the Charter provides that the Board of Estimate and Taxation shall submit proposed Appropriations to a Representative Town Meeting to be held on or before May 15 in each year, which meeting shall take action upon such proposed Appropriations and make such Appropriations as may appear advisable, except that no Appropriations shall be made exceeding in amount that for the same purpose recommended by said Board, and no Appropriations shall be made for any purpose not recommended by said Board; and
WHEREAS, the said 2008-09 Proposed Budget was forwarded to the members of the Representative Town Meeting on or about April 5, 2008, and submitted to the Representative Town Meeting at its meeting held on May 12, 2008;
NOW, THEREFORE, BE IT RESOLVED, that the recommendations of the Board of Estimate and Taxation as contained in the said Proposed Budget filed, as above stated, in the Office of the Town Clerk and submitted at this meeting of the Representative Town Meeting be and the same hereby are approved as the Appropriations for the ensuing Fiscal Year 2008-09, except that the following items shall be Decreased or Omitted as follows:
Department
Code Number
Appropriations by
Board
Appropriations by
Town Meeting
Decrease (-)
Reason for Decrease
Total Decrease
FURTHER RESOLVED, that the attached Resolutions Concerning Grants and Other Receipts, Conditions and Other Provisions and Bonding Resolution be the same hereby are approved.
RESOLUTIONS OF BOARD OF ESTIMATE AND TAXATION AND
REPRESENTATIVE TOWN MEETING ON 2008-09 BUDGET
GRANTS AND OTHER RECEIPTS
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
The following Officers and Departments of the Town of Greenwich are hereby authorized to apply for and accept grants, and to accept receipts from Town activities, for the period from July 1, 2008 through June 30, 2009, as provided below.
General Government: Office of the First Selectman
1. The First Selectman is authorized to apply for and accept grants from the Federal Department of Homeland Security and the Connecticut Department of Emergency Management Homeland Security Grants Program, and such grants shall become appropriations upon approval by the Board of Estimate and Taxation and the Representative Town Meeting if necessary under Section 30(c) of the Charter.
2. The First Selectman is authorized to accept proceeds resulting from the activities of the Griffith E. Harris Golf Course, and such proceeds shall become appropriations upon recommendation of the First Selectman and approval of the Board of Estimate and Taxation and the Representative Town Meeting if necessary under Section 30(c) of the Charter and be added to the appropriate accounts within the Griffith E. Harris Golf Course Revolving Fund. For establishing funding for the appropriation accounts, the Policy of the Department of Parks and Recreation for the Griffith E. Harris Golf Course Revolving Fund is hereby endorsed.
3. The First Selectman is authorized to accept proceeds from Area Nine Cable Council, and such proceeds shall become appropriations to account A105 53070.
4. The First Selectman is authorized to apply for and accept grants from the State of Connecticut Department of Transportation, under the Connecticut General Statutes, Section 13b-38bb, and such grants shall become appropriations to the Department of Social Services’ code A501 57210 known as Contributions to External Entities.
5. The First Selectman is authorized to apply for and accept grants, and to execute agreements regarding said grants, made by the State of Connecticut Department of Transportation, under the Connecticut Clean Fuel Program and such grants shall be added by the Comptroller to the appropriate revenue account.
6. The First Selectman is authorized to apply for and accept grants from the Small Town Economic Assistance Program (STEAP), in accordance with C.G.S. § 4-66g as amended by Public Act 07-7, Section 41, and C.G.S. § 4-66c as amended by Public Act 07-07, Section 40, and such grants shall become appropriations upon approval by the Board of Estimate and Taxation.
General Government: Finance
7. The Comptroller is authorized to accept insurance proceeds and reserves, including interest thereon, to become appropriations that the Comptroller may add to the appropriate account for the purpose of paying for damage to property of the Town.
8. The Comptroller is authorized to accept medical premium payments from former employees under “Consolidated Omnibus Budget Reconciliation Act” (COBRA), and such amounts shall become appropriations to the Department of Human Resources’ Code No. A901 57100, known as “Healthcare”.
General Government: Assessor
9. The Assessor is authorized to accept proceeds from the sales of the Grand List books, field cards, and maps, and such proceeds shall become appropriations that the Comptroller may add to the appropriate account for the purpose of reimbursing the costs of printing and supplying the public with said items.
General Government: Town Clerk
10. The Town Clerk is authorized to apply for and accept grants made by the Archivist of the United States in accordance with Title 44, Chapter 25, §2504 of the United States Code (U.S.C.) and the State of Connecticut under Public Act 00-145 in accordance with C.G.S. §§11-8l and 11-8m, which grants shall become appropriations that the Comptroller may add to the appropriate account for the purpose of preserving Town records.
General Government: Planning & Zoning
11. The Planning and Zoning Commission is authorized to accept proceeds from the sale of the Plan of Conservation and Development and the Building Zone Regulations of the Town of Greenwich, and such proceeds shall become appropriations to an account to be designated by the Board of Estimate and Taxation, to be used for the purpose of reimbursing the cost of printing such documents, pursuant to C.G.S. §8-2a.
General Government: Conservation Commission
12. The Conservation Commission is authorized to accept donation of monies and to collect proceeds from the sales of its publications, and such donations and proceeds shall become appropriations upon approval by the Board of Estimate and Taxation and the Representative Town Meeting, if necessary under Section 30 of the Charter, to be used by the Commission to publish natural resource books, maps, reports, and pamphlets, to erect bird nest boxes, to manage nesting habitats of endangered and threatened species, and to undertake other appropriate habitat management pursuant to C.G.S. §7-131 a(b).
General Government: Inland Wetlands & Water Courses
13. The Inland Wetlands and Watercourses Agency is authorized to accept compliance receipts for the purpose of holding said receipts until an applicant has completed work required by the Inland Wetlands and Watercourses Agency.
General Government: Shellfish Commission
14. The Shellfish Commission is authorized to collect proceeds from licenses and fees for the taking of shellfish under its control, and such proceeds shall become appropriations upon approval by the Board of Estimate and Taxation, to be used by the Commission for the protection and propagation of shellfish under its control, pursuant to C.G.S. §26-257a(b).
General Government: Commission on Aging
15. The Commission on Aging is authorized to accept donations of monies and to collect proceeds from the sales of its publications and such donations and proceeds shall become an appropriation that the Comptroller may add to the appropriate account for the purpose of funding the cost of printing and mailing a newsletter to the elderly in Greenwich.
Fire Department
16. The Fire Department is authorized to collect proceeds from outside parties for the taking of fire training courses under its control, and such proceeds shall become an appropriation that the Comptroller may add to the appropriate account for the purpose of defraying the costs of such courses.
Police Department
17. The Police Department is authorized to make application to the State and Federal authorities to share with other law enforcement agencies in tangible property and monies seized and forfeited pursuant to state or federal law as a result of criminal defendants' illegal activities, subject to the following:
(a) The acceptance of tangible property and monies on behalf of the Town of Greenwich, which have been approved by the Board of Selectmen and the Board of Estimate and Taxation, including the placement of said tangible property in the inventory of the Police Department and the disbursement of said monies as an appropriation to the budget account of the Police Department for an increase of law enforcement resources, is hereby approved in the amount of monies or value of property up to a total of $500,000 for the fiscal year (any unappropriated expenses that may be incurred thereby, that have been approved by the Board of Selectmen and the Board of Estimate and Taxation, are hereby approved up to a total of $20,000 for the fiscal year);
(b) Monies accepted from federal or state authorities as a result of said forfeitures shall be deposited with the Treasurer of the Town of Greenwich for the budget account of the Police Department in accordance with state and federal statutory and regulatory requirements;
(c) The disposition of said accepted forfeited tangible property and monies shall be in accordance with state and federal statutory or regulatory requirements and the tangible property and monies will be credited to the inventory or budget of the Police Department, in accordance with Town accounting policies resulting in an increase of law enforcement resources for the Police Department;
(d) The First Selectman is authorized to execute all papers and forms required for the acceptance, establishing of title, registration and whatever other documentation is required to complete the transfer to and utilization of the tangible property and cash by the Police Department;
(e) The Town Attorney is authorized to certify to the federal and state authorities (i) that the First Selectman has the authority to accept the forfeited tangible property and is the official to whom transfer documents should be delivered; (ii) that the Treasurer is the proper fiscal officer to whom disbursement of forfeited monies is to be made; ( iii) that there is no state or local law prohibiting the transfer of the tangible property and monies to the Town of Greenwich; and (iv) whatever other legal certification is required to accomplish the transfer to and utilization of the tangible property and monies by the Police Department;
(f) The Chief of Police, on July 1 and January 2, shall submit a written report to the RTM Moderator and Chairman of the RTM Town Services Committee, which report shall detail the sums of money received, and shall describe and provide an estimated value of the tangible property received, in the preceding six months.
18. The Police Department is authorized to apply for and accept grants from the National Highway Traffic Safety Administration, and such grants shall become appropriations that the Police Department may add to the appropriate accounts upon approval by the Board of Estimate and Taxation.
19. The Police Department is authorized to apply for and accept grants from the State of Connecticut Office of Policy and Management (OPM) as authorized under C.G.S. §21a-274a, Drug Enforcement Grant Program, and other OPM grants pertaining to law enforcement activities, and such grants shall become appropriations that the Police Department may add to the appropriate accounts upon approval by the Board of Estimate and Taxation.
20. The Police Department is authorized to apply for and accept grants from the United States Department of Justice, and such grants shall become appropriations that the Police Department may add to the appropriate accounts upon approval by the Board of Estimate and Taxation.
21. The Police Department is authorized to apply for and accept grants from the State of Connecticut Department of Health, and such grants shall become appropriations that the Police Department may add to the appropriate accounts upon approval by the Board of Estimate and Taxation.
22. The Police Department is authorized to accept grants from the State of Connecticut Department of Public Safety as authorized under C.G.S. Sec. 28-24, Enhanced 911 Program, and such grants shall become appropriations that the Police Department may add to the appropriate accounts upon approval by the Board of Estimate and Taxation.
Public Works
23. The First Selectman is authorized to apply for and accept grants made by the Connecticut State Department of Environmental Protection and/or the Federal Government under the provisions of Title 22a of the Connecticut General Statutes Chapter 446k, Water Pollution Control, and Chapter 26, Title 33 of the United States Code, for the purposes of rebuilding, expanding or acquiring a pollution abatement facility and for interim improvements for nitrification/denitrification at the Greenwich Waste Water Treatment Facility, and grants from the State’s Clean Water Fund, in connection with the planning, development and construction of sewer projects, to mitigate the effects of inflow on treatment processes and on the Long Island Sound.
24. The First Selectman is authorized to apply for and accept grants made by the State of Connecticut Office of Policy and Management under its Local Capital Improvement Program in accordance with C.G.S. §7-536.
25. The First Selectman is authorized to apply for and accept grants and to execute agreements regarding said grants, made by the State of Connecticut Department of Transportation, under its Local Bridge Program in accordance with C.G.S. §13a-175p-pu.
26. The First Selectman is authorized to apply for and accept grants made by the Connecticut State Department of Transportation under the provisions of C.G.S. Section §13b-38a for the purpose of developing or administering any transportation management plan which complies with the objectives and requirements of said statute.
27. The First Selectman is authorized to accept grants made by the State of Connecticut, Department of Transportation, under the Town Aid Grant for Roads and Public Transportation Services, and such grants shall become appropriations to the Department of Public Works’ Code No. Z314-59600, known as “Highway -- State Town Aid Grant.”
28. The First Selectman is authorized to apply for and accept grants from the State of Connecticut Department of Transportation, under the Federal Transportation Equity Act for the 21st century (TEA 21), and subsequent acts.
Vehicles
29. The Comptroller is authorized to accept proceeds from the sale of vehicles and equipment, and such proceeds shall become appropriations that the Comptroller may add to the appropriate account for the purpose of acquiring replacement vehicles and equipment.
Health Department
30. The Department of Health is authorized to apply for and accept grants made by the Department of Public Health, Department of Environmental Protection, other departments and agencies of the State of Connecticut, and the Federal Government and non-profit corporations and foundations for the purpose of conducting public health programs in prevention, health promotion and related areas, and such grants shall become appropriations that the Department of Health may add to the appropriate accounts upon approval by the Board of Estimate and Taxation.
Social Services
31. The Department of Social Services is authorized to accept grants and enter into contracts with the Departments of Labor, Social Services, Children and Families, other departments and agencies of the State of Connecticut, the Federal Government, and non-profit corporations and foundations, for the purpose of meeting its goals to strengthen self-sufficiency and self-reliance, promote positive development and emotional adjustment, and maintain residents’ economic and emotional well-being, and to reduce or defray existing or potential future costs to the Town for providing social services to residents; and such grants shall become appropriations that the Department of Social Services may add to the appropriate account upon approval by the Board of Estimate and Taxation.
32. The First Selectman is authorized to execute and file applications with the State Commissioner of Social Services and the State Commissioner of Economic and Community Development, pursuant to Chapters 128, 129, 130 and 133 of the Connecticut General Statutes, and to act as the authorized representative of the Town of Greenwich in taking the necessary steps to implement day care programs and a program for payment in lieu of taxes.
33. The Department of Social Services is authorized, under Connecticut General Statutes Section 8-266 through 8-282 (the Uniform Relocation Assistance Act), to accept and use reimbursement from property owners for expenses related to the Department’s administration of a Relocation Assistance Advisory Plan for households displaced by Town action.
Board of Education
34. The Board of Education is authorized to accept grants made by the Federal Government and/or the State of Connecticut, under the following programs:
(a) Title 20 of the United States Code including Improving America’s Schools Act of 1994, 20 U.S.C. §6301 et seq., Safe and Drug-Free Schools and Communities Act of 1994, 20 U.S.C. §7101 et seq., (including grants being referred by the State as Improving Basic Programs, Eisenhower Professional Development Program, Innovative Education Strategies, Safe and Drug Free Schools), Carl D. Perkins Vocational and Applied Technology Education Act Amendments of 1990, 20 U.S.C. §2301 et seq., Individuals with Disabilities Education Act (IDEA), 20 U.S.C. §1400 et seq., (including grants referred to by the State as “IDEA Part B Sections 611”, Entitlement Grant, Pre-School Entitlement Grant and Silver Grant);
Vanguard School Grant (through the State Educational Resource Center/SERC); Early Intervention Services Grant (through SERC); and
(b) Connecticut General Statutes: C.G.S §10-20d (School to Career Opportunities), C.G.S. §10-262l (Grants for Improvement in Student Achievement), C.G.S. §21a-274a (Drug Enforcement Grant Program); and PL 103-382 Foreign Language Assistance Act of 1994.
(c) Each grant shall become an appropriation that the Board of Education may add to the appropriate accounts.
35. The Board of Education is authorized to accept proceeds resulting from the following activities:
(a) The School Lunch Program, including, but not limited to, the sale of food and any Federal and/or State aid received from the program, these proceeds to become appropriations that the Board of Education may add to the School Lunch Revolving Fund;
(b) The Continuing Education Program, these proceeds to become appropriations that the Board of Education may add to the appropriate accounts;
(c) The Summer School Program, these proceeds to become appropriations that the Board of Education may add to the appropriate accounts;
(d) The purchase of services from the District print shop by the Greenwich PTA and other Town departments, these proceeds to become appropriations that the Board of Education may add to the appropriate print shop accounts;
(e) The rental of school buildings, these proceeds to become appropriations that the Comptroller may add to the appropriate accounts for the purpose of reimbursing the approved costs related to the rental of school buildings, such costs not to exceed proceeds in any fiscal year;
(f) Proceeds from the Greenwich Education Association, these proceeds to become appropriations to cover all personnel costs of release time for an officer beyond that which is provided for in the collective bargaining agreement.
36. The Board of Education is authorized to accept grants from the Greenwich Alliance for Education, a local not-for-profit education foundation, such grants to become appropriations that the Board of Education may add to the appropriate accounts.
Libraries
37. Pursuant to the Agreement Between The Greenwich Library and the Town of Greenwich concerning the Funding for Staffing and Operations of the Peterson Wing of The Greenwich Library, the Town accepts a gift of private funds from The Greenwich Library for said purposes in an amount equal to the appropriations authorized in the Code 702 appropriation accounts, and the First Selectman is empowered to execute such amendments to the agreement as are necessary to reflect changes in positions as are approved in the Code 702 appropriation accounts.
38. Pursuant to the Agreement Between The Greenwich Library and the Town of Greenwich concerning the Operations of the Peterson Wing of The Greenwich Library, the Town accepts gifts of private funds from The Greenwich Library, to be distributed to the appropriate Code 702 appropriation accounts and used by The Greenwich Library for the purpose of paying additional expenditures related to the operations of the Peterson Wing.
Parks & Recreation
39. The Department of Parks and Recreation is authorized to accept proceeds resulting from the rental of Town facilities, and these receipts shall become appropriations that the Comptroller may add to the appropriate accounts for the purpose of reimbursing the approved costs related to the rental of Town facilities, such costs not to exceed proceeds in any fiscal year.
40. The Department of Parks and Recreation is authorized to accept any court awarded damages and costs and settlements for the restoration of trees and other vegetation on Town property damaged by any person in violation of C.G.S. 52-560 and 52-560a and such damage, cost and settlement proceeds shall become appropriations that the Department may add to appropriate accounts as approved by the Board of Estimate and Taxation.
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41. The Department of Parks and Recreation, Tree Division, is authorized to accept (a) gifts of trees and plantings from the Greenwich Tree Conservancy, Inc., and (b) donations for the purchase of trees to be planted on Town property. Such donations shall become appropriations that the Comptroller may add to account A829-53800.
RESOLUTIONS OF BOARD OF ESTIMATE AND TAXATION AND
REPRESENTATIVE TOWN MEETING ON PROPOSED 2008-2009 BUDGET
CONDITIONS AND ADDITIONAL PROVISIONS
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
1. At the end of the 2008-09 fiscal year, any uncommitted balances of the Capital Project Fund shall lapse and, with the approval of the Board of Estimate and Taxation, shall become an appropriation into the Capital and Non Recurring Fund and become available for future capital expenditures.
2. The Representative Town Meeting of the Town of Greenwich in accordance with C.G.S. §7-450a(b) hereby requests a qualified cost estimate from the enrolled actuary, as defined in said statute, for any ordinance or act altering the retirement system of the Town of Greenwich and receipt of same, as specified in subsection (d) of said statute, shall be accomplished through the Comptroller filing a certified copy of same with the Town Clerk as the Clerk of the Representative Town Meeting.
3. The Greenwich Classification and Pay Plan prepared by the Board of Estimate and Taxation is hereby approved and adopted.
4. WHEREAS:
(a) The Board of Estimate and Taxation is responsible for the proper administration of the financial affairs of the Town; and
(b) For the purposes of salary and benefits no appropriation for one object shall be used for any other object, except that the Board of Estimate and Taxation shall have the power to transfer uncommitted balances from one appropriation for a department to another appropriation for the same department;
(c) All appropriations for salary and benefit accounts for the fiscal year 2008-2009 are based on the Town’s current Table of Organization, as incorporated in the proposed budget submitted by the First Selectmen as modified by the Board of Estimate and Taxation; and
(d) Any net additions to the total number of positions in the Town’s Table of Organization will result in fiscal/budgetary consequences and the use of appropriated funds for objects other than the funding of the positions reviewed and approved by the Board of Estimate and Taxation and part of the budgetary process;
IT IS RESOLVED that the appropriations for the salary and benefits accounts in fiscal year 2008-2009 may only be used to fund the total number of positions as contained in the approved Table of Organization, which are the objects of the appropriations, and may not be used to fund any net addition of positions to the Table of Organization, without approval of the Board of Estimate and Taxation and the transfer of such funds for a purpose approved by the Board of Estimate and Taxation.
Conditions
5. The following General Conditions and the Special Conditions attached to specific appropriations and designated in a schedule of conditions are hereby approved and shall be considered as and shall be a part of the Appropriations hereby approved and adopted:
Appropriations within each department and activity shall be made on the basis of the following major object accounts with no further subdivision except for equipment and improvements:
100 - Personal Services
200 - Services Other Than Personal
300 - Supplies and Materials
400 - Maintenance
500 - Social Services
600 - Insurance
700 - Grants, Subsidies, Debt Service and Other Fixed Charges
800 - Refunds and Non-Expense Items
900 - Equipment and Improvements
The detailed object classifications supporting each one of the above appropriations within each department as shown in the detailed budget recommendations, are set forth for informative purposes only.~ However:
1. Payments of salaries and wages from any appropriation for Personal Services must be in conformity with the salary and wage rates as shown in negotiated collective bargaining agreements with employee organizations and approved by the Representative Town Meeting or in accordance with approved salary rates for non-represented positions.
2. Any new regular employee must be employed at the minimum pay rate for the class of position he or she is to fill.~ This shall not apply to teachers and other "Certified" personnel in the school system, except that written notice to the Comptroller shall be given when such personnel are employed, promoted or transferred.
3. If a department or board wishes to employ a person (other than certified personnel) at a pay rate above the minimum of the wage range, the salary for such position shall be approved by the Board of Estimate and Taxation except that the Director of Personnel may approve a pay rate above the minimum to the midpoint of the wage range and shall approve pay rates for temporary, seasonal and part-time employees.~This does not apply to persons paid on a fee basis for professional services.
4. Expenditures for miscellaneous equipment not fully itemized shall be substantially for the object shown.
All appropriations shall be committed by and payable upon the order of the Head of the Department, Chairman or Secretary of the Board, Official, or person designated by the Board or by Statute for which or for whom the respective appropriations are made, except as may be, from time to time, determined by the Board of Estimate and Taxation.
RESOLUTION AUTHORIZING BORROWINGS IN THE
AGGREGATE AMOUNT OF $22,665,000 TO MEET A
PORTION OF THE CAPITAL BUDGET
APPROPRIATIONS IN THE CAPITAL PLAN FOR
FISCAL YEAR 2008-2009
WHEREAS, the Board of Estimate and Taxation and the Representative Town Meeting have approved specific appropriations for the various capital projects in the Town’s Capital Plan for the fiscal year ending June 30, 2009, for the purposes and in the amounts appearing under “General Fund” in said Capital Plan;
BE AND IT IS HEREBY RESOLVED:
Section 1. To meet the portion of the approved capital budget appropriations for general public improvement and school projects to be met from borrowings in fiscal year 2008-2009, $22,665,000 general obligation bonds are authorized to be issued in one or more series, maturing in substantially equal annual installments of principal, provided the final installment shall be due not later than five years after their date. The bonds shall be in the denomination of $1,000 or a whole multiple thereof, be issued in fully registered form, be executed in the name and on behalf of the Town by the facsimile or manual signatures of the Chairman of the Board of Estimate and Taxation, and the Treasurer, and countersigned by the Comptroller, have the seal of the Town affixed and
attested by the Town Clerk, be certified by a bank or trust company, and be approved as to their legality by nationally recognized bond counsel. The bonds shall be general obligations of the Town and each of the bonds shall recite that every requirement of law relating to its issue has been duly complied with, that such bond is within every debt and other limit prescribed by law, and that the full faith and credit of the Town are pledged to the payment of the principal thereof and interest thereon.
Section 2. The aggregate principal amount of the bonds of each series to be issued, and the manner of issue and sale shall be determined by the Comptroller, provided the bonds shall be issued in amounts which will provide funds sufficient with other funds available for such purpose to pay the principal of and the interest on all temporary borrowings in anticipation of the receipt of the proceeds of said bonds outstanding at the time of the issuance thereof, and to pay for the administrative, printing and legal costs of issuing the bonds. The redemption provisions, if any, the certifying, registrar and transfer agent and paying agent, the date, time of issue and sale and other terms, details and particulars of such bonds, including approval of the rate or rates of
interest payable thereon, shall be determined by the Comptroller, in accordance with the General Statutes of the State of Connecticut, as amended.
Section 3. Said bonds shall be sold by the Comptroller, in a competitive offering or by negotiation, in his discretion. If sold in a competitive offering, the bonds shall be sold at not less than par and accrued interest on the basis of the lowest net or true interest cost to the Town. A notice of sale or a summary thereof describing the bonds and setting forth the terms and conditions of the sale shall be published at least five days in advance of the sale in a recognized publication carrying municipal bond notices and devoted primarily to financial news and the subject of state and municipal bonds. If the bonds are sold by negotiation, provisions of the purchase agreement shall be approved by the Comptroller.
Section 4. The Comptroller is authorized to make temporary borrowings in anticipation of the receipt of the proceeds of said bonds. Notes evidencing such borrowings shall be signed by the Chairman of the Board of Estimate and Taxation and Treasurer and countersigned by the Comptroller, have the seal of the Town affixed and attested by the Town Clerk, be approved as to their legality by nationally recognized bond counsel, and be certified by and payable at a bank or trust company designated by the Comptroller, pursuant to Section 7-373 of the General Statutes of Connecticut, as amended. They shall be issued with maturity dates which comply with the provisions of the General Statutes governing the issuance of such notes, as the same may be amended from time to time. The
notes shall be general obligations of the Town and each of the notes shall recite that every requirement of law relating to its issue has been duly complied with, that such note is within every debt and other limit prescribed by law, and that the full faith and credit of the Town are pledged to the payment of the principal thereof and the interest thereon. The net interest cost on such notes, including renewals thereof, and the expense of preparing, issuing and marketing them, to the extent paid from the proceeds of such renewals or said bonds, shall be included as a capital cost of the projects. Upon the sale of the bonds, the proceeds thereof, to the extent required, shall be applied forthwith to the payment of the principal of and the interest on any temporary borrowings then outstanding or shall be deposited with a bank or trust company in trust for such purpose.
Section 5. The Town hereby expresses its official intent pursuant to §1.150-2 of the Federal Income Tax Regulations, Title 26 (the "Regulations"), to reimburse expenditures paid sixty days prior to and anytime after the date of passage of this resolution in the maximum amount and for the capital projects specified herein with the proceeds of bonds or other obligations authorized to be issued by the Town. The bonds or other obligations shall be issued to reimburse such expenditures not later than 18 months after the later of the date of the expenditure or the substantial completion of the project, or such later date the Regulations may authorize. The Town hereby certifies that the intention to reimburse as expressed herein is based upon its reasonable expectations
as of this date. The Comptroller is authorized to pay project expenses in accordance herewith pending the issuance of reimbursement bonds or other obligations, and to amend this declaration.
Section 6. The Comptroller is hereby authorized, on behalf of the Town, to enter into agreements or otherwise covenant for the benefit of bondholders to provide information on an annual or other periodic basis to nationally recognized municipal securities information repositories or state based information repositories (the "Repositories") and to provide notices to the Repositories of material events as enumerated in Securities and Exchange Commission Exchange Act Rule 15c2-12, as amended, as may be necessary, appropriate or desirable to effect the sale of the bonds or other obligations authorized by this resolution. Any agreements or representations to provide information to Repositories made prior hereto are hereby confirmed, ratified and approved.
Section 7. The time for the issuance of bonds or other obligations authorized hereunder shall not be limited but shall remain in full force and effect until all payments are made and all borrowings completed for the capital projects financed by such bonds or other obligations.
Referred to Budget Overview Committee
Referred to Education Committee
Referred to Finance Committee
Referred to Health & Human Services Committee
Referred to Land Use Committee
Referred to Legislative & Rules Committee
Referred to Parks & Recreation Committee
Referred to Public Works Committee
Referred to Town Services Committee
Referred to Transportation Committee
Dated at Greenwich, Ct THOMAS J. BYRNE
April 28, 2008 MODERATOR
CARMELLA C. BUDKINS
TOWN CLERK
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