Memory Lane concerning Templeton debt exclusions:

On December 22, 2015 at 5:52 AM Mark Barrieau <mbarrieau@verizon.net> wrote:

Hi Bob,

What is the amount that will come off the tax rate due to expiration of this debt exclusion?

Thanks,

Mark

On Dec 21, 2015 11:37, Robert Markel <townadministrator@templeton1.org> wrote:

FYI:  Have learned that the first debt exclusion of $550,000 for school design, authorized in 2010, was not bonded.  The Town issued BANs, but used available funds and MSBA reimbursements to pay down the debt.  The downside is that this will affect our free cash certification, since using available funds on hand means that money that would ordinarily be certified as free cash was spent.  

This is not a disaster, but it will likely reduce free cash by about $209,000.

Bob

---------- Original Message ----------
From: Mary Carney <Mary.Carney@firstsw.com>
To: 'Robert Markel' <townadministrator@templeton1.org>
Cc: "treasurer (treasurer@templeton1.org)" <treasurer@templeton1.org>, "accountant@templeton1.org" <accountant@templeton1.org>
Date: December 15, 2015 at 12:48 PM
Subject: Templeton Debt

Hi Bob

The $550,000 Feasibility loan was never issued as a long term obligation and therefor would not have been included in either of the reports I sent you this morning.  The project was financed through the issuance of Bond Anticipation Notes originally issued in 2010.  Payments were made against the loan as follows: Reimbursements of $77,495 in June 2011 and $9,000 in November 2012 were received from the Mass School Building Authority and paid against the loan.  Principal payments of $148,505 on 11/12/2013 $158,000 on 11/11/2013 and $157,000 on 10/30/2014 (fiscal 2015) were made to finally extinguish the authorization.

Thanks,

__________________________________Mary Carney 
Senior Vice President
First Southwest Company, LLP
direct 508.797.3035   fax 508.797.3096   cell 508.332.0311     
255 Park Avenue, 10th Floor, Worcester, MA  01609

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Bob

Robert T. Markel
Interim Town Administrator
Town of Templeton
160 Patriots Road
East Templeton, MA 01438(978)894-2753