June 18, 2003
TOWN OF EASTON, MARYLAND
Special Meeting
Acting President John F. Ford Councilmember Moonyene Jackson-Amis
Town Clerk Robert F. Karge and Assistant Town Attorney Sharon Van Emburgh.
The Mayor and Council met in a workshop session at 7:30 p.m. in the Council’s Chambers.
SPECIAL MEETING
The Acting President of the Council called the meeting to order.
RESOLUTION NO. 5808, 5809
The Assistant Town Attorney briefed on Resolutions No. 5808 and 5809 with notes attached to Easton Bank & Trust. Ms. Van Emburgh stated that one note is for $1,292,655 which is for capital projects that have been part of the budget. She stated that there is not sufficient cash flow to pay for these projects. Ms. Van Emburgh stated that the note provides for interest at 2.75% with a provision that if the notes are not tax deductible to Easton Bank & Trust, it will provide for 4.04%. She stated that they do not anticipate that this will be a problem. The note provides for payment to start in October with a term of three years.
The Assistant Town Attorney stated that the other note is for a revolving line of credit to provide working capital for the Town and that is 68% of prime for the interest rate. She stated that this will be interest only payments until pay off October 2003.
The Town Clerk stated that the line of credit is basically to be positive that we maintain sufficient cash flow. He stated that it is not certain that we will have to exercise it and the intention is that we will not borrow that money unless the cash flow in the upcoming tax year are slower coming in than usual. Mr. Karge stated that it will not be invoked unless we absolutely need to.
Mayor Willey stated that this is one of the reasons to get a line of credit instead of a straight loan.
The President of the Council, Mr. Ford discussed Resolution No. 5809.
Mr. Karge stated that this amount was included in the budget to borrow and was deferred until as long as possible. He stated that also included in that is the Utilities’ relocation of the gas plant demolition which is going to come in quickly and was outside the budget. Mr. Karge stated that the $1,292,655 is for items already purchased.
Ms. Jackson-Amis made a motion to approve Resolution No. 5808, seconded by Mr. Jensen and carried unanimously following a roll call vote of those members present.
Mr. Jensen made a motion to approve Resolution No. 5809, seconded by Ms. Jackson-Amis and carried unanimously following a roll call vote of those members present.
PUBLIC ASSEMBLY REQUEST FOR EASTON CELEBRATIONS JULY 4TH CELEBRATION
The Town Clerk briefed on the Chief’s Public Assembly request for Easton Celebrations for approval for them to conduct the normal Easton Celebrations Olde Tyme Fourth of July Celebration to be held at the VFW grounds in Easton.
Upon motion by Ms. Jackson-Amis, seconded by Mr. Jensen, approval was granted for the Public Assembly permit for July 4.
DISCUSSION REGARDING PROCEDURE FOR BUILDING PERMIT WAIVER
Mayor Willey discussed his memo for procedure for the waiver of building permits. He stated that the issue comes up if a request is received between now and when the proposal is being studied.
The Acting President of the Council stated that he has received comments regarding the proposal.
Ms. Jackson-Amis discussed the proposal.
The Acting President of the Council stated that it seems prudent to exempt the County.
Mayor Willey stated that Mr. Wendowski supports the proposal as long as the last sentence is eliminated regarding the Council making special exceptions.
Ms. Jackson-Amis stated that she is against the waiving of the fee but questioned hardship cases and historical organizations.
The Acting President of the Council stated that this will be voted on during the July 7 Council meeting.
SALE OF BLACK & DECKER PROPERTY
Mayor Willey stated that Black & Decker has been sold and the deed was transferred today. He stated that the press release will be in the Star Democrat tomorrow. He stated that it was sold to Pettinaro Developers out of Newark, Delaware for investment purposes. Mr. Willey stated that there are two possible tenants; one a light manufacturing company, the other a boat building operation. Mayor Willey stated that there may be more employers looking at Easton.
ADJOURNMENT
At 7:45 p.m., upon motion by Mr. Jensen, seconded by Ms. Jackson-Amis, the President of the Council adjourned the Special Meeting.
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Town Clerk