THIS MEETING WAS CONDUCTED VIA ZOOM

 

The public was able to view this meeting.

 

 

1.     4:00 P.M.  CALL TO ORDER

 

Present:   Pres. Sharon E. Ahern

 

In Attendance Remotely:   Vice Pres. Suzanne K. Giorno

                                            Councilors Cioffi, Duhamel, Cooke, Overton, McCuin

                                            T. Mgr. Rooney; T. Sol. Conley

 

Absent:    T. Clk Giordano

                 T. Sgt Falcone

 

Also In Attendance Remotely:   Dyann Baker, Finance Director

                                                           Diane Chiaradio Bowdy, Chair, School Committee

                                                           John Pagano, School Maintenance

                                                           Bill Beauregard, Asst. Dir. DPW Utilities

 

 

 2.    NEW BUSINESS

 

        a.     Memoranda:

1.   Proposed Bond Referenda

2.   Pro Forma Debt Analysis

 

     Finance Director Baker explained the Pro Forma Debt Analysis submitted by Steve Maceroni, the Town's financial advisor.  It was noted that there will be a decline in debt service in 2026.  Ms. Baker addressed the sewer bond stating that the upgrades are estimated at $12 million, but the referendum will be asking for bond not to exceed $15 million.  She further stated that there will be an increase in the ad valorem, which is paid by those in the sewer district.

 

     Councilors expressed concern with the $15 mil being requested for upgrades to the sewer treatment plant. It was suggested that some of the sewer fund balance be used toward the treatment plant upgrades.

 

Motion by Mr. Cooke, Seconded by Ms. Giorno, to move to Item "d" at this time.  (Voted Unanimously)

 

b.     Resolution Authorizing The Town Of Westerly To Issue Not To Exceed $2,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction, Renovation, Improvement, Alteration, Repair, Furnishing And Equipping Of Schools And School Facilities In The Town – Discussion And Possible Action

 

     1.     Rhode Island Department Of Education Memorandum Of Agreement School Construction

 

     2.     WPS Proposed Bond Projects

 

     3.     Financial Impact Statement – School Bond

 

Motion by Mr. Cooke, Seconded by Mr. McCuin, that the aforesaid resolution be tabled to a future workshop.  (Voted Unanimously)

 

c.     Resolution Authorizing The Town Of Westerly To Issue Not To Exceed $9,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction Of Road And Bridge Infrastructure Improvements And Related Water Line Improvements In The Town – Discussion And Possible Action

 

1.     Road Bond Evaluation

 

2.     Financial Impact Statement – Road Bond

 

Motion by Mr. Cooke, Seconded by Mr. McCuin, that the aforesaid resolution be tabled to a future workshop.  (Voted Unanimously)

 

d.     Resolution Authorizing The Town Of Westerly To Issue Not To Exceed $15,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction and Maintenance Of Sewers And Sewerage Systems, Including The Sewage Treatment Plant In The Town – Discussion And Possible Action – Discussion And Possible Action

 

1.     Memorandum from Bill Beauregard, Asst. Dir. Of Public Works-Utilities– Jacobs Report; Estimated Cost of Construction & Improvements; Jacobs December 2020 Correspondence

 

     Mr. Beauregard explained the Jacobs Report, which provides and evaluation of required upgrades as well as recommendations for improvements for nitrogen removal.

 

2.     Financial Impact Statement – Sewer Treatment Bond

 

Motion by Mr. Duhamel, Seconded by Ms. Cioffi, to approve the aforesaid resolution.

 

    Councilor Duhamel withdrew his motion and Ms. Cioffi withdrew her Second.

 

Motion by Mr. McCuin, Seconded by Mr. Cooke, to amend the aforesaid resolution to an amount Not To Exceed $14,000,000.  (Voted 3 to 4 – Motion failed; Councilors Cioffi, Duhamel, Overton and Council President Ahern dissented)

 

Motion by Mr. Overton, Seconded by Mr. Duhamel, to adopt the aforesaid resolution with the original amount of $15,000,000.

 

    Councilor Overton withdrew his motion, Mr. Duhamel withdrew his Second. 

 

Motion by Mr. Cooke, Seconded by Mr. McCuin, that the aforesaid resolution be tabled to a future workshop.  (Voted Unanimously)

           

e.     The New York Times Article, dated December 16, 2020 – re: “Fed Leaves Rates Unchanged and Commits to Ongoing Bond Purchases”

 

     No action was taken on the aforesaid matter.

 

f.     Potential Westerly Town Charter Amendments From Town Council And Town Manager – Discussion And Possible Action To Move Forward To January 4, 2021

 

Motion by Mr. Cooke, Seconded by Mr. McCuin, that the aforesaid potential Westerly Town Charter amendments be tabled to a future workshop.  (Voted Unanimously)

 

 

3.     ADJOURNMENT

 

        5:10 P.M.  Voted Unanimously to adjourn.

 

 

 

     Details of the aforesaid proceedings are available on video on the Town of Westerly website.