Article 2014-22 Long Pond Road Culvert Capital Reserve Fund

Article 2014-22 Long Pond Road Culvert Capital Reserve Fund

Postby Rob C - Moderator » Sat Mar 01, 2014 10:20 pm

Article 2014-22 Long Pond Road Culvert Capital Reserve Fund

To see if the Town will raise and appropriate the sum of Fifty-five Thousand Dollars ($55,000.00) to replace the culvert on Long Pond Road at Pow Wow Brook and to authorize the withdrawal of Forty-Two Thousand One-Hundred Seventy Six Dollars and Sixty Cents ($42,176.60) plus any additional interest earned from the Long Pond Road Culvert Capital Reserve Fund and to name the Board of Selectmen to be the agent to expend these funds. The remaining Twelve Thousand Eight Hundred Twenty Three Dollars and Forty Cents ($12, 823.40) will be raised through taxation.

Recommended by the Board of Selectmen (5-0)
Recommended by the Budget Committee (5-1)


Discussion: This project will replace the rotted culvert on Long Pond Road at Pow Wow Brook. Several temporary repairs have already been done to the culvert area, but further repair options are not possible due to the deteriorated state of the culvert. The end-of-year 2013 balance: $42,176.60. The majority of funds ($42k+) will come from the withdrawal from the Capital Reserve fund with the remainder ($12,823.40) coming from taxation via this warrant. Estimated tax impact: $0.039/thousand.
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