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Northport Village Corporation Overseers Meeting July
15, 2007 Present: President Josiah Huntoon; Overseers Peter Allen, Margaret Brockway, Bill Cressey, Linda Houghton, Judy Metcalf, Rick Melone, Judy Rohweder; Treasurer Julian Sheffield; Village Agent Bill Paige; Office Manager Paul Bartels; Visitors Jane & William Talbott. Meeting called to order at 8:00 AM. by President Jo Huntoon. Minutes
for July 1, 2007 meeting: Brockway motion to approve; Cressey amended motion to
change Warrants were circulated for approval and signatures. Financials
– Julian Sheffield led a discussion on Working Capitol on the NVC financial reports, explaining the line items. NVC is running low on working capitol, she suggested that they take out a Bridge loan until the Tax Payments start coming in. Judy Metcalf motioned to make this Article # 7 on the Annual Warrant, Jo Huntoon seconded – VOTED. Discussion on Dump sticker sales. It was determined that Dump stickers sold from the NVC Office are a convenience for the residents and will be limited to twenty dollars, and cash only. Village
Agent – A new Swim Float is needed. After a brief discussion about design, Bill Paige was instructed to get an estimate from Winterport Boatyard. A
request to put a sign in a tree in Bill
Paige reported that a manhole cover needs to be lowered on Visitors’
Concerns – William Talbott addressed the Overseers about ongoing problems he has had with Sewer backups, erosion and property damage to his house over the past few years. The erosion persists. He complained that he was not notified when priorities changed between the Phase I, Phase II and Phase III Sewer projects. Jo Huntoon explained what was driving the priorities at the time. The Auditorium Park Sewer Project will fix his problems and he was assured that it will be a priority. Communications
– Judy Metcalf led a discussion about Public Access to NVC documents. She pointed out that saving emails on hardcopy was too voluminous and we will save them on the computer instead and print out any documents requested by the public, for a charge. Metcalf also led a discussion on the New Bylaws Version #3, special meetings clause and advise and consent. A motion to present version #3 to the Annual Meeting by Judy Metcalf, seconded by Marge Brockway – VOTED. Facilities
– Nothing to report. Safety
– Peter
Allen reported that the Overgrowth on Changes to the new Fire Ordinance were discussed and will be presented at the Annual Meeting. Allen led a discussion about the scope of area that the police should be patrolling and will be forbidden to have speed traps on Route 1. Surface
Runoff – Nothing to report. Utilities
– Jo
Huntoon reported an agreement with the Utilities Committee to borrow an
additional $200,000 to fix existing problems on Annual
Warrants – The following Warrants were approved for the Annual Meeting: Article 1: To choose a Moderator by written ballot to preside at said meeting. Article 2: President’s Report. Article 3: Treasurer’s Report. Article
4:
To
see if the Northport Village Corporation will vote to appropriate and authorize
a majority of the overseers of the Corporation to borrow on behalf of the
Northport Village Corporation a principal amount not to exceed $400,000 and to
issue and sell for that purpose general obligation bonds or notes of the
Northport Village Corporation, the proceeds to be used for the purpose of
financing improvements to the waterfront, wharf, and roads within the Village
Corporation including but not limited to reconstruction of the causeway, the
roads, and beach breakwater, such bonds and notes to be issued upon such further
terms or conditions as may be determined by a majority at least of the overseers
of the Northport Village Corporation, and further to authorize the overseers to
accept and expend federal or state grants, execute any and all contracts and
documents and take any and all actions necessary or convenient to issue the
bonds or notes of the Northport Village Corporation and accomplish the Project. Financial
Statement 1.
Total Indebtedness A.
Bonds outstanding and unpaid
$ 1,316,283 B.
Bonds authorized and unissued
$
0
C.
Bonds to be issued if this question is approved:
$ 400,000 TOTAL
$ 1,716,283 2.
Costs At
an estimated interest rate of 5 % for a term of 15 years, the estimated costs of
this bond issue will be: Principal
$ 400,000 Interest
$
178,053 Total
Debt Service
$ 578,053 3.
Validity The
validity of the bonds and of the voters' ratification of the bonds may not be
affected by any errors in the above estimates.
If the actual amount of the total debt service for the bond issue varies
from the estimate, the ratification by the electors is nevertheless conclusive
and the validity of the bond issue is not affected by reason of the variance. _____________/S/___________________ Treasurer,
Northport Village Corporation Article
5:
To
see if the Northport Village Corporation will vote to appropriate and authorize
a majority of the overseers of the Corporation to borrow on behalf of the
Northport Village Corporation a principal amount not to exceed $200,000 and to
issue and sell for that purpose general obligation bonds or notes of the
Northport Village Corporation, the proceeds to be used for the purpose of
financing improvements to the Sewer System within the Village Corporation
including but not limited to repair of Collection Piping, Wastewater Outfall and
Treatment Plant, such bonds and notes to be issued upon such further terms or
conditions as may be determined by a majority at least of the overseers of the
Northport Village Corporation, and further to authorize the overseers to accept
and expend federal or state grants, execute any and all contracts and documents
and take any and all actions necessary or convenient to issue the bonds or notes
of the Northport Village Corporation and accomplish the Project. Financial
Statement 1.
Total Indebtedness A.
Bonds outstanding and unpaid
$ 1,316,283 B.
Bonds authorized and unissued
$
0
C.
Bonds to be issued if this question is approved:
$ 200,000 TOTAL
$ 1,516,283 2.
Costs At
an estimated interest rate of 5 % for a term of 15 years, the estimated costs of
this bond issue will be: Principal
$ 200,000 Interest
$ 89,026 Total
Debt Service
$ 289,026 3.
Validity The
validity of the bonds and of the voters' ratification of the bonds may not be
affected by any errors in the above estimates.
If the actual amount of the total debt service for the bond issue varies
from the estimate, the ratification by the electors is nevertheless conclusive
and the validity of the bond issue is not affected by reason of the variance. _______________/S/_________________ Treasurer,
Northport Village Corporation Article 6: To see what sums of money the Northport Village Corporation will raise and appropriate for the following accounts for the fiscal year 2008: Overseers’ Proposed Budget Total Income $189,500 Expenses General Government $64,750 Roads & Storm Drains 21,000 Protection & Safety 23,950 Community 20,500
Debt Service & Reserve
19,300
Capital Projects
40,000 Total Expenses $189,500 This
money will be raised as follows: $25,000 to be requested from the Town of Article 7: To approve borrowings by the Northport Village Corporation in an amount not to exceed $50,000 for working capital purposes. Funds are to be borrowed in anticipation of the 2008 taxes. Article 8: To approve borrowings by the Northport Village Corporation in an amount not to exceed $100,000. Funds are to be used towards replacement of the Community Hall and Wharf as needed, emergency repairs to utilities operated by the Village Corporation, for reconstruction of shoreline damage to property owned by the Northport Village Corporation as a result of a storm, or repair of roads owned by the Corporation. Article
9: To fix a rate of interest on taxes delinquent after November 30, 2007, equal
to that charged by the Town of Article 10: To approve the proposed new Fire Ordinance. Article 11: To approve the proposed Bylaw changes. Article 12: To elect the Officers by written ballot (President, Clerk, and Treasurer). Article 13: To elect Overseers by written ballot. Article 14: Reports of Committees: Bill Cressey motioned to present these warrants to the Annual Meeting, Marge Brockway seconded – VOTED.
Judy Metcalf motion to adjourn; Marge Brockway seconded – VOTED. Meeting adjourned at 10:05 am. |