HomeMy WebLinkAboutATM 18 ART 5 Reserve Fund1
Town of Nantucket
ulu
OFFICE OF THE
TOWN & COUNTY
CLERK
16 Broad Street
NANTUCKET, MASSACHUSETTS 02554-3590
Catherine Flanagan Stover, MMC, CMMC
Town & County Clerk
(508) 228-7216
FAX (508) 325-5313
Home: (508) 228-7841
Email: cstover@nantucket-ma.gov
flanaganstover@yahoo.com
townclerk@nantucket-ma.gov
WEBSITE: http://www.nantucket-ma.gov
ulu
April 4, 2018
TO WHOM IT MAY CONCERN:
I, Catherine Flanagan Stover, duly elected Clerk of the Town and County of Nantucket, hereby
certify that the April 3, 2018 ANNUAL TOWN MEETING adopted Article 5: “Appropriation:
Reserve Fund ” at the April 3, 2018 adjourned session when “...the adoption of all articles not
heretofore acted upon as recommended by the Finance Committee, or as recommended by the
Planning Board, was duly motioned, seconded, and voted in accordance with the motions
recommended by the Finance Committee or, in the absence of a Finance Committee motion,
then in accordance with the motions as recommended by the Planning Board, as printed in the
Finance Committee Report, with technical amendments brought forward during the course of
the meeting…”
VOTE: The vote on the motion pursuant to Article 5 as moved by the Finance Committee,
was by Unanimous Voice Vote. The motion was adopted.
Catherine Flanagan Stover, MMC, CMMC
Town and County Clerk
ATM 18 Article 5,Page 1 of 2
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ARTICLE 5
(Appropriation: Reserve Fund)
To see what sum the Town will vote to appropriate, and also to raise, borrow pursuant to
any applicable statute, or transfer from available funds, for the purposes of establishing a
Reserve Fund pursuant to Chapter 40 section 6 of the Massachusetts General Laws, to provide
for the extraordinary and unforeseen expenditures which may arise during Fiscal Year 2019;
said sum not to exceed five (5) percent of the Fiscal Year 2018 tax levy; or to take any other
action related thereto.
(Board of Selectmen)
FINANCE COMMITTEE MOTION: Moved that Five Hundred Thousand Dollars ($500,000)
be raised and appropriated from the Fiscal Year 2019 tax levy and other general revenues of
the Town to establish a reserve fund for Fiscal Year 201 9 pursuant to Chapter 40, section 6
of the General Laws.
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