Budget Review Committee

BUDGET REVIEW COMMITTEE DECEMBER 22, 2011 A meeting of the Budget Review Committee was held Thursday, December 22, 2011 at 7:10 p.m. in the Aldermanic Chamber. Alderman-at-Large David W. Deane, Chair presided. Members of Committee present: Alderman-at-Large Mark S. Cookson, Vice Chair Alderman Diane Sheehan Alderman Mary Ann Melizzi-Golja Alderman-at-Large Lori Wilshire Alderman June M. Caron Members not in Attendance: Alderman Jeffrey T. Cox Also in Attendance: Alderman Richard A. Dowd Alderman Deane I got a phone call from Alderman Cox who had a work commitment. He said he was not going to be able to make it. PUBLIC COMMENT – None NEW BUSINESS – RESOLUTIONS R-11-167 Endorser: Mayor Donnalee Lozeau AUTHORIZING THE MAYOR AND CITY TREASURER TO ISSUE BONDS NOT TO EXCEED THE AMOUNT OF FIFTEEN MILLION FOUR HUNDRED NINETY-TWO THOUSAND FOUR HUNDRED AND FIFTY-THREE DOLLARS ($15,492,453) FOR THREE WASTEWATER PROJECTS MOTION BY ALDERMAN WILSHIRE TO RECOMMEND FINAL PASSAGE OF R-11-167 ON THE QUESTION Alderman Deane We had the public hearing last night. This pertains to the resolution that was approved by the board earlier. It had a stipulation in whether the project was being funded through the state revolving loan fund and/or through bonds. Since it didn’t happen at the state level, this is the avenue that the city is taking. MOTION CARRIED R-11-169 Endorser: Mayor Donnalee Lozeau CREATING A SPECIAL REVENUE FUND FOR PAYMENT OF THE ACQUISITION BOND FOR PENNICHUCK CORPORATION MOTION BY ALDERMAN MELIZZI-GOLJA TO RECOMMEND FINAL PASSAGE OF R-11-169 Budget Review – 12/22/11 Page 2 ON THE QUESTION Alderman Deane This, as was explained to us last evening – unless you want to come up and give us an oversight, Mayor. That’s fine. Mayor Lozeau Thank you, Mr. Chairman. Actually the only reason that I am stepping up on this this evening is I think everybody understands it from the public hearing last night and what it is and why it is, but as you may recall last night, one of the things that was said was that it didn’t seem like the language was very tight. Alderman Deane, you asked me specifically about whether this fund was only to be used for money to come in to go out and pay the bond, and I answered in the affirmative, and that is in fact still correct. But I asked legal to take a second look at it today to make sure that we thought the language was as tight as our intention, and their answer was yes. They wouldn’t change any of the language, but when they did take that second look, the RSA that is cited, the 31:95-c, I should be changed to 47:1-b, and the same on the second page. So the two references, not in the analysis, but in the body of the resolution. So the last “whereas” paragraph… Alderman Deane What’s the RSA? 47? Mayor Lozeau 47:1-b. The one that was cited here is the correct ones for towns, but there is a specific one for cities. That’s the only thing I was going to add Mr. Chairman. Alderman Deane Okay, that’s found in two spots. Mayor Lozeau Two spots. Alderman Deane That’s found in the last… Mayor Lozeau The second page and then the bottom paragraph of the first page. MOTION BY ALDERMAN DEANE TO AMEND IN THE BODY OF LEGISLATION BY REMOVING 31:95-c,I AND REPLACING IT WITH 47:1-b MOTION CARRIED Budget Review – 12/22/11 Page 3 Alderman Deane My only thing is like it said in the analysis, Mayor. This is solely for repaying the principal and interest and not another dime is going to be taken out of this account for anything else. Mayor Lozeau Exactly. That’s the only purpose. Alderman Deane Okay. That’s wonderful. MOTION CARRIED FOR FINAL PASSAGE OF R-11-169 AS AMENDED NEW BUSINESS – ORDINANCES – None GENERAL DISCUSSION PUBLIC COMMENT REMARKS BY THE ALDERMEN POSSIBLE NON-PUBLIC SESSION ADJOURNMENT MOTION BY ALDERMAN WILSHIRE TO ADJOURN MOTION CARRIED The meeting was declared closed at 7:15 p.m. Alderman-at-Large David W. Deane Chairman, Budget Review Committee