Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Reserve Fund topic
No spam. Unsubscribe anytime.
Board adds Article 5 to create reserve fund for local-option tax receipts
Summary
Town staff said the board added Article 5 to establish a reserve fund that would hold local-option tax receipts and restrict their use to infrastructure projects, a change from the prior draft warning.
Joe told the Select Board he added Article 5 to the warning to create a reserve fund for local-option tax receipts. "I added that article 5 that creates a reserve fund, for that for those monies," he said, explaining the intent to restrict the cash flow to infrastructure.
Board members had previously discussed ways to limit the use of local-option tax receipts. The article as written directs the question to voters in the warning; the board did not take a final vote on how the fund would be administered at this meeting.
