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Lakeville creates water-infrastructure stabilization fund, sets aside $100,000 for planning and postpones loan for water tower
Summary
At a Dec. 8, 2008 special town meeting, Lakeville voters created a water infrastructure stabilization fund funded largely by a settlement payment tied to groundwater contamination, approved a smaller transfer to support water planning and postponed a proposed loan for a water tower while pursuing grant funding.
Lakeville voters on Dec. 8 approved creation of a special-purpose water infrastructure improvement stabilization fund and approved a set of transfers that include $100,000 to support water infrastructure planning, while voting to postpone a separate loan authorization for a water tower.
The meeting approved a motion to transfer and appropriate various unanticipated FY2009 amounts totaling $102,370, the motion record shows; the mover identified $100,000 of that total as to be placed in a fund to be spent for water infrastructure planning and grant-writing. Later in the meeting the town authorized, pursuant to General Laws Chapter 40, Section 5B, a transfer of $1,721,732.06 from the special revenue reserve-for-appropriation account into a newly created water infrastructure improvement stabilization fund.
Officials described the larger transfer as proceeds tied to a legal settlement over…
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