TOWN OF SPRAGUE
NOTICE OF SPECIAL TOWN MEETING
APRIL 29, 2010
A Special Town Meeting of the electors and citizens qualified to vote in town meetings of the Town of Sprague, Connecticut, will be held in the Courtroom at the Sprague Town Hall, One Main Street, in Baltic, Connecticut, on Thursday, April 29, 2010 at 7:00 P.M. for the following purposes:
1. To consider and act upon a resolution,
(a) to appropriate $120,000 for costs related to the reconstruction of portions of Inland Road in the Versailles section of the Town, contemplated to include roadbed, culvert and wing wall reconstruction or repairs, and other related work, and various costs related to the financing of the project. The appropriation may be spent for design and construction costs, equipment, materials, engineering fees, grant application costs, legal fees, net interest on borrowings and other financing costs, and other expenses related to the project or its financing. The Board of Selectmen shall be authorized to determine the scope and particulars of the project and to reduce or modify the scope of the project, and the entire appropriation may be expended on the project as so reduced or modified.. The Town anticipates applying for FEMA or other grants to defray in whole or in part the appropriation; and the First Selectman or other proper officers or officials of the Town shall be authorized to make application for and accept such grants and to take any other action necessary or desirable to obtain such grants;
(b) to authorize the issue of bonds or notes of the Town in an amount not to exceed $120,000 to finance the appropriation; to provide that the amount of bonds or notes authorized shall be reduced by the amount of grants received by the Town and applied to pay project costs; to authorize the issue of temporary notes of the Town in an amount not to exceed $120,000 in anticipation of such bonds or notes; and to authorize the First Selectman and the Treasurer of the Town to determine the amounts, dates, interest rates, maturities, redemption provisions, form and other details of the bonds or notes; and to perform all other acts which are necessary or appropriate to issue the bonds or notes;
(c) to take such action to allow temporary advances of available funds and to reasonably expect the Town to reimburse any such advances from the proceeds of borrowings in an aggregate principal amount not in excess of the amount of borrowing authorized above for the project; to authorize the First Selectman and the Treasurer to amend such declaration of official intent as they deem necessary or advisable and to bind the Town pursuant to such representations and covenants as they deem necessary or advisable in order to maintain the continued exemption from federal income taxation of interest on the bonds or notes authorized by this resolution, if issued on a tax-exempt basis, including covenants to pay rebates of investment earnings to the United States in
future years; and to make representations and enter into written agreements for the benefit of holders of the bonds or notes to provide secondary market disclosure information, which agreements may include such terms as they deem advisable or appropriate in order to comply with applicable laws or rules pertaining to the sale or purchase of such bonds or notes; and
(d) to authorize the Board of Selectmen, the First Selectman, the Treasurer and other proper officers and officials of the Town to take all other action which is necessary or desirable to complete the project and to issue bonds and notes and obtain grants to finance the appropriation for the project.
2. To appropriate a United State Department of Agriculture Grant issued or to be issued in the amount of $25,000 to be expended on a feasibility study/augmentation and expansion of wastewater facility project as such purposes are or will be set forth in the terms of the grant.
3. To appropriate a United State Department of Agriculture Grant issued or to be issued in the amount of $69,935.00 to be expended on a Solar Voltaic System at the Town Hall as such purposes are or will be set forth in the terms of the grant.
4. To apply for Department of Environmental Protection Land Acquisition Grant and sign any appropriate documents.
Dated at Sprague, Connecticut, this 23rd day of April 2010
Catherine A. Osten, First Selectman
Edward C. Meadows, Selectman
Michael R. Collins, Selectman