Orange Board of Selectmen Meeting
December 8, 2007

Present: Chairman Steven Adam, Vice Chairman Robert Andrews,
and Clerk Richard Sheridan

Also Present: Town Administrator Rick Kwiatkowski and
Leigh Deveneau, Treasurer

I. CALL TO ORDER:
Chairman Steven Adam called the meeting to order at 4:00 PM.

II. ACTION – Borrowing in lieu of anticipated revenues: Cover letter from Town Treasurer to the Board of Selectmen regarding the need for RAN borrowing. Discussion of the incoming revenue and expenses going out and why we need to borrow. It was stated that we cannot moves taxes due any sooner, or the debt incursion any sooner. Cherry sheet funds are coming in. Borrowing looks to be a yearly happening. The funds for paying interest on borrowing will be added to the budget line item.

It was questioned whether we should borrow funds for Chapter 90 projects as they come up in order to lessen a RAN borrowing. It may save interest costs.

Robert Andrews moved to approve the borrowing as presented. It was seconded by Richard Sheridan. All in favor.

The meeting was adjourned at 4:45 p.m.

(Minutes taken by Treasurer, Leigh Deveneau).

NEXT MEETING – December 12, 2007

Respectfully submitted,

_____________________________
Nancy J. Lyman, Administrative Coordinator