MINUTES

WATERTOWN TOWN COUNCIL

SPECIAL MEETING

TOWN HALL ANNEX

MONDAY, = JANUARY 24, 2005, 6:30 P.M.

PRESENT: = &nb= sp; Elaine Adams

&= nbsp; &nbs= p; &= nbsp; &nbs= p; Karl Fisher

&= nbsp; &nbs= p; &= nbsp; &nbs= p; Robert Kane, Chairman

&= nbsp; &nbs= p; &= nbsp; &nbs= p; Raymond Primini

&= nbsp; &nbs= p; &= nbsp; &nbs= p; Paul Rinaldi

&= nbsp; &nbs= p; &= nbsp; &nbs= p; Paul Valenti

&= nbsp; &nbs= p; &= nbsp; &nbs= p; Richard Wick

ABSENT: &= nbsp; &nbs= p; Lee Archer

= ; &n= bsp; = ; &n= bsp; Raymond Hebert, Jr., Vice Chairman

OTHERS PRESENT: &= nbsp; Meredith Robson, Town Manager

1.&nb= sp; Convene Special Meeting

&n= bsp;

Mr. Kane, Chairman, Called the Special Meeting to Order at 6:33 p.m.

2.&nb= sp; Roll Call

Mr. Kane, Chairman, executed the Roll Call.

3. &nb= sp; Discussion and Possible Action on the Introduction of Bond Ordinance and Scheduling Pu= blic Hearing to hear comments on the proposed ordinance appropriating $1,150,000= for the Acquisition of approximately 53 acres of land located adjacent to Plung= is, Munson and Linkfield Roads for active and passive recreation, open space and other municipal purposes, and authorizing the issue of bonds and notes to finance the portion of the appropriation not defrayed from grants.

RESOLUTION OF TOWN COUNCIL

(Introduction of Ordinance and Scheduling Public Hearing)

Ite= m 2:

Ms. Elaine Adams Moved the Adoption of the following Resolution which was Seconded by Mr. Raymond Primini:

Watertown Town Council

Special Meeting

January 24, 2005

Page 2

RESOLVED, that the Town Council hold a Public= Hearing on Monday, February 7, 2005, at the 6:30 p.m. at John Trumbull Primary Scho= ol Media Center, 779 Buckingh= am Street, Oakville, Connecticut, on the following propos= ed bond ordinance, which is hereby introduced:

= 220;AN ORDINANCE APPROPRIATING $1,150,000 FOR ACQUISITION OF APPROXIMATELY 53 ACRE= S OF LAND LOCATED ADJACENT TO PLUNGIS, MUNSON, AND LINKFIELD ROADS IN WATERTOWN FOR ACT= IVE AND PASSIVE RECREATION, OPEN SPACE, AND OTHER MUNICIPAL PURPOSES, AND AUTHORIZI= NG THE ISSUE OF BONDS AND NOTES TO FINANCE THE PORTION OF THE APPROPRIATION NOT DEFRAYED FROM GRANTS.

BE IT ORDAINED BY THE TOWN COUNCIL OF T= HE TOWN OF WATERTOWN<= /st1:City>:

1. = ; That the Town of Watertown appropriate ONE MILLION ONE HUNDRED FIFTY THOUSAND DOLLARS ($1,150,000) for costs in connection with the acquisition of an aggregate approximately 53 acres of land, and any improvements thereon and appurtenances thereto, located adjacent to Plungis, Munson, and Linkfield Roads in Watertown and now or formerly ow= ned by Albinas Rickevicius, said property to be used for active and passive recreation, open space, and other municipal purposes. The appropriation may be spent for acquisition costs, consultant fees, survey and testing costs, engineering f= ees, legal fees, net interest on borrowings and other financing costs, and other expenses related to the project.

2. = That the Town issue bonds or notes in an amount not to exceed ONE MILLION ONE HUNDRED FIFTY THOUSAND DOLLARS ($1,150,000) to finance the project. The amount of bonds or notes autho= rized to be issued shall be reduced by the amount of grants received by the Town = for the project. The bonds or not= es shall be issued pursuant to Section 7-369 of the General Statutes of Connecticut, Rev= ision of 1958, as amended, and any other enabling acts. The bonds or notes shall be general obligations of the Town secured by the irrevocable pledge of the full faith= and credit of the Town.

3. = That the Town issue and renew temporary notes from time to time in anticipation = of the receipt of the proceeds from the sale of the bonds or notes or the rece= ipt of grants for the water and project. The amount of the notes outstanding at any time shall not exceed ONE MILLION ONE HUNDRED FIFTY THOUSAND DOLLARS ($1,150,000). The notes shall be issued pursuant = to Section 7-378 of the General Statutes of Connecticut, Revision of 1958, as amended. The notes shall be general obligations of the Town and shall be secured by the irrevocable pledge of the full faith and credit of the Town. The Town shall comply with the provisions of Section 7-378a of the General Statutes with respect to any no= tes that do not mature within the time permitted by said Section 7-378.<= /p>

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January 24, 2005

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4. That the Town Manager and the Finance Director of the Town shall sign any bonds, notes, or temporary notes by their manual or facsimile signatures. The law firm of Day, Berry, & Howard LLP is designated = as bond counsel to approve the legality of the bonds, notes, or temporary notes. The Town Manager and t= he Finance Director are authorized to determine the amounts, dates, interest rates, maturities, redemption provisions, form and other details of the bon= ds, notes or temporary notes; to designate one or more banks or trust companies= to be certifying bank, registrar, transfer agent and paying agent for the bond= s, notes or temporary notes; to provide for the keeping of a record of the bon= ds or notes or obligations; to designate a financial advisor to the Town in connection with the sale of the bonds or notes; to sell the bonds, notes or temporary notes at public or private sale; to deliver the bonds, notes or temporary notes; and to perform all other acts which are necessary or appropriate to issue the bonds, notes or temporary notes.=

5. = That the Town hereby declares its official intent under Federal Income Tax Regulation Section 1.150-2 that project costs may be paid from temporary advances of available funds and that (except to the extent reimbursed from grant moneys) the Town reasonably expects to reimburse any such advances fr= om the proceeds of borrowings in an aggregate principal amount not in excess of the amount of borrowing authorized above for the project. The Town Manager and the Finance Director are authorized 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, notes or temporary notes authorized by this resolution, if issue= d on a tax-exempt basis, including covenants to pay rebates of investment earnin= gs to the United States in future years.

6. That the Town Manager and the Finance Director are authorized to make representations and enter into written agreements for the benefit of holders of the bonds, note= s, or temporary 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, notes, or temporary notes.

7. = ; That the Town Manager or other appropriate Town officials, on behalf of the Town, are authorized to apply for and accept federal and state grants to help fin= ance the appropriation for the project, and to enter into any grant or loan agreement prescribed by the grantor, and that the Town Council, the Town Manager, and the Finance Director are authorized to take any other actions necessary to obtain such grants or to implement such grant agreements. Any grant proceeds may be used to = pay project costs or principal and interest on project bonds, notes, and tempor= ary notes.

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January 24, 2005

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8. &= nbsp; That the Town Manager, the Finance Director and other proper officers of the Town are authorized to take all other action which is necessary or desirable to complete the project and to issue bonds, notes, and temporary notes and to obtain grants to finance the aforesaid appropriations.

9. = This ordinance shall be published in full within ten days after passage by the T= own Council in a newspaper having circulation within the Town, and shall become effective on the 21st day after such publication and after approval at referendum.”

FURTHER RESOLVED, that notice of such P= ublic Hearing be given by the Chairman, Town Manager, or Town Clerk.

The fore= going Resolution was passed by the following roll-call vote:

= IN FAVOR &= nbsp; &nbs= p; &= nbsp; &nbs= p; OPPOSED &= nbsp; &nbs= p; ABSENT/ABSTAIN=

Ms. Elaine Adams=

Mr. Karl Fisher<= /span>

Mr. Robert Kane<= /span>

Mr. Raymond Primini

Mr. Paul Rinaldi=

Mr. Paul Valenti=

Mr. Richard Wick=

Dated at Watertown, Connecticut this 24^th day of January, 2005

&= nbsp; &nbs= p; &= nbsp; &nbs= p; &= nbsp; &nbs= p; &= nbsp; __________________________= _____

&= nbsp; &nbs= p; &= nbsp; &nbs= p; &= nbsp; &nbs= p; &= nbsp; Robert J. Kane, Chairman

&= nbsp; &nbs= p; &= nbsp; &nbs= p; &= nbsp; &nbs= p; &= nbsp; Watertown Town Council

&= nbsp; &nbs= p; &= nbsp; &nbs= p; &= nbsp; &nbs= p; &= nbsp; __________________________= ____

&= nbsp; &nbs= p; &= nbsp; &nbs= p; &= nbsp; &nbs= p; &= nbsp; Lynn LaForme, Clerk

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January 24, 2005

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&= nbsp; MOTION:<= span style=3D'mso-tab-count:1'> (Ms. = Adams, sec. Mr. Primini) to Approve the Resolution introducing the Bond Ordinance = and setting a Public Hearing on Monday, February 7, 2005 at 6:30 pm. at the John Trumbull Primary School Media Center, 779 Buckingham Street, Oakville= , Connecticut, on the Ordinance which = is hereby introduced as follows:

= "An Ordinance Appropriating $1,150,000 for Acquisition of approximately 53 acre= s of land located adjacent to Plungis, Munson, and Linkfield Roads in Watertown = for Active and Passive Recreation, Open Space, and other Municipal Purposes, and Autho= rizing the issue of Bonds and Notes to finance the portion of the Appropriation no= t defrayed from Grants.

&= nbsp; Discussion: Ms. Adams: Just for clarification, what is the amount of the State Grant?

&= nbsp; &nbs= p; &= nbsp; Mr. Kane: $600,000.

= ; &n= bsp; = ; Ms. Adams: So the net would b= e?

&= nbsp; &nbs= p; &= nbsp; Mr. Kane: $555,000. It's a good question.

&= nbsp; &nbs= p; &= nbsp; Mr. Wick: The purchase price is $1,100,000?<= /p>

= ; &n= bsp; = ; Ms. Robson: Yes.

&= nbsp; &nbs= p; &= nbsp; Mr. Wick: And the $50,000, I assume, is to c= over the cost of the bonds?

&= nbsp; &nbs= p; &= nbsp; Ms. Robson: Bonding, yes.

&= nbsp; &nbs= p; &= nbsp; Mr. Wick: And there are no other costs anticipated?

&= nbsp; &nbs= p; &= nbsp; Ms. Robson: Not at this point. You've already appropriated the mo= ney for the appraisals.

&= nbsp; &nbs= p; &= nbsp; Mr. Valenti: In advance of the Hearing so that the people in the public can make as intelligent input to u= s as the Council as they can, are we going to do our best to make sure we get a = lot of information out in regards to, I know we did the thing from Milone & MacBroom, which was, I think, helpful, but is there anything we can do by w= ay of cost estimates regarding maintenance of any proposed field? I know that's a little more down r= ange, but just to give as much as possible, so when people come to talk about it, there's as much information to discuss to help get the questions answered before we go out to Referendum.

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January 24, 2005

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&= nbsp; &nbs= p; &= nbsp; Ms. Robson: Well we can certainly talk to them= about that.

&= nbsp; &nbs= p; &= nbsp; Mr. Kane: Yea, you could look at Veteran's, = you could look at . . . . .

&= nbsp; &nbs= p; &= nbsp; Mr. Valenti: I was just going= to suggest, perhaps, if it's on the scale and it looks roughly, I mean it's ha= rd to say, but roughly on the scale of what Veteran's is, we have some idea th= at we can work with.

&= nbsp; &nbs= p; &= nbsp; Mr. Rinaldi: Taken for granted this has to go o= ut to referendum, correct?

&= nbsp; &nbs= p; &= nbsp; Mr. Kane: Right.

&= nbsp; Mr. Rinaldi: And this, what w= e're voting on tonight, is just land acquisition, is that correct?

&= nbsp; &nbs= p; &= nbsp; Mr. Kane: Set the Public Hearing date and ap= prove the Bond Ordinance.

&= nbsp; &nbs= p; &= nbsp; Ms. Rinaldi: But like I said, it's just for the= land acquisition?

&= nbsp; &nbs= p; &= nbsp; Ms. Robson: Yes.

&= nbsp; MOTION PASSED UNANIMOUSLY

4.&nb= sp; Adjournment=

&= nbsp; MOTION:<= span style=3D'mso-tab-count:1'> (Ms. = Adams, sec. Mr. Rinaldi) to Adjourn the Special Meeting at 6:36 p.m.

&= nbsp; Discussi= on: None<= /p>

&= nbsp; MOTION PASSED UNANIMOUSLY

Special Meeting Adjourned at 6:36 p.m.

Respectfully submitted,

Robert J. Kane, Chairman

Watertown Town Co= uncil

&n= bsp;

= Approved: _________________= ______________

= Lynn M. LaForme, Clerk