Article 18. Creation of Capital and Debt Stabilization Funds

ARTICLE 18. To determine whether the Town will establish (a) a Debt Stabilization Fund and to transfer a sum to said Debt Stabilization Fund; and (b) a Capital Stabilization Fund and to transfer a sum, from Free Cash to said Capital Stabilization Fund; as authorized by Massachusetts General Laws c. 40, § 5B; or take any other action relative thereto.

Article Explanation

This article seeks Town Meeting approval to create a Capital Stabilization Fund and Debt Stabilization Fund and transfer from Free Cash an amount of money to set aside for future capital and debt projects/expenses.

Article Motion

Mr. Dahlberg moves that the Town take affirmative action on Article 18 to:

1. create a Debt Stabilization Fund for the purpose of offsetting the debt associated with future capital projects;
2. transfer to the Debt Stabilization Fund the sum of $500,000 from the Certified Free Cash Balance as of July 1, 2024;
3. create a Capital Stabilization Fund for the purpose of funding future capital projects; and
4. transfer to the Capital Stabilization Fund the sum of $100,000 from the Certified Free Cash Balance as of July 1, 2024,

as authorized under Mass. Gen. Laws c. 40, § 5B.