Finance Committee Meeting January 10, 2022
6:30 pm City Hall Holyoke
536 Dwight St, Holyoke 01040
City Council
Holyoke Massachusetts
Pursuant to the Massachusetts Open Meeting Law, G.L. c. 30A, §§ 18-25,
and Section 20 of Chapter 20 of the Acts of 2021,
notice is hereby given of a meeting of the committee on
Finance
Monday, January 10, 2022
6:30 PM
Meeting to take place at
Holyoke City Hall, 536 Dwight St
and can be accessed remotely on Zoom Meetings
Per order of the Chair: Joseph McGiverin
Remote access via www.zoom.us
https://us02web.zoom.us/j/89863970534?pwd=QmxjSENGLzdDZjBqMmtGNUZNbGttdz09
Meeting ID: 898 6397 0534 Meeting Passcode: 055557 or by call in at 1 (646) 558-8656 with the same Meeting ID and Passcode.
Agenda
Item 1: 12-21-21 MCGIVERIN — that there be and is hereby appropriated by transfer in the fiscal year 2022, FIVE THOUSAND AND 00/100 Dollars ($5,000.00) as follows:
FROM:
11411-51101 ASSESSOR $5,000.00
TOTAL: $5,000.00
TO:
11412-53090 ASSESSMENT UPDATE $5,000.00
TOTAL: $5,000.00
Item 2: 1-4-22 JOURDAIN — That the Assessors appear before the City Council to discuss the current property tax exemption amounts and qualifying criteria to see if any adjustments can and should be made to ensure all deserving residents who should qualify for assistance get that assistance. We also want to make sure we are strategically taking advantage of all state subsidized exemptions for the financial support of our needy residents especially as the city has continued to increase property taxes to record levels. This is hitting many people hard and they need our help.
Item 3: 12-21-21 MCGIVERIN — Ordered that the sum of $475,000 is appropriated to pay the costs of the new middle school design phase and the payment of all costs incidental and related thereto, and that to meet this appropriation, the Treasurer, with the approval of the Mayor, is authorized to borrow said amount under and pursuant to Chapter 44, Section 7(7) of the General Laws, or pursuant to any other enabling authority, and to issue bonds or notes of the City therefor; that the Mayor is authorized to contract for and expend any state aid available for the project; and that the Mayor is authorized to take any other action necessary or convenient to carry out this project.
Further Ordered: That any premium received by the City upon the sale of any bonds or notes approved by this vote, less any such premium applied to the payment of the costs of issuance of such bonds or notes, may be applied to the payment of costs approved by this vote in accordance with Section 20 of the General Laws, thereby reducing the amount authorized to be borrowed to pay such costs by a like amount.
Further Ordered: That the Treasurer is authorized to file an application to qualify under Chapter 44A of the General Laws any and all of the bonds or notes authorized to be issued pursuant to this Order, and to provide such information and execute such documents as may be required for such purposes.
Further Ordered: That in order to reduce interest costs, the City Treasurer, with the approval of the Mayor, is authorized to refinance any outstanding bonds of the City, as well as any bonds issued pursuant to this Order, and in connection therewith, to issue refunding bonds in accordance with Chapter 44, Section 21A of the General Laws.
Further Ordered: That there shall be no change in the purpose of this bond authorization without prior vote of approval by the Holyoke City Council.
Item 4: 1-4-22 MCGIVERIN — that there be and is hereby appropriated by transfer in the fiscal year 2022, SIXTEEN THOUSAND ONE HUNDRED EIGHTY AND 00/100 Dollars ($16,180.00) as follows:
FROM:
11351-51102 ASSISTANT AUDITOR – PAY $9,800.00
11351-51105 HEAD CLERK – PAY 6,380.00
TOTAL: $16,180.00
TO:
11452-56000 IRS PENALTIES $16,180.00
TOTAL: $16,180.00
Administrative Assistant: Jeffery Anderson-Burgos
The listing of matters are those reasonably anticipated by the chair which may be discussed at the meeting. Not all items listed may in fact be discussed and other items may also be brought up for discussion to the extent permitted by law. Also one or two items may require the committee to enter into executive session at this meeting. Agenda subject to change up to two business days (48 hours) prior to posted meeting time.