CAPITAL OUTLAY COMMITTEE

                                                    OCTOBER 23, 2008

                                                            MINUTES

The meeting of the Capital Outlay Committee was held at 8:00 pm in the Selectmen's Meeting room and was called to order at 8:05 p.m. by Chair Paul Linehan.

Members Present:

Paul Linehan, Chair

Board of Selectmen:  Walter "Joe" Roach - William A. Heitin

Finance Committee:   Gordon Gladstone - Joel Lessard (Alternate)

                                    Edward Phillips (Alternate)

School Committee:       Alison Rutley - Laura Salomons

Planning Board:            Amanda Sloan - David Milowe

Finance Director:          Bill Fowler

Members not Present:

Finance Committee:      Brian Fitzgerald

Town Administrator:     Benjamin E. Puritz

Others Present:

Horizons for Youth       Michael Bossin, Chair

1.  Administrative Items

Chair Paul Linehan had the Capital Outlay Committee members introduce themselves.

2.  Review Mission Statement, COC Guidelines and Definitions

            a.  P. Linehan read to the Committee the Mission Statement and                 presented the COC the policies and procedures;

            b.  P. Linehan discussed the Debt Paydown Plan and the COC                Budget Guidelines;

            c.  Also discussed were the definitions of the following:

· COC Request Minimum Qualifications - $10,000 value, 5-year term

· Inside, non-exempt debt (capital borrowing);

· Excluded debt;

· 5, 10 & 20 year borrowing;

· Bond rating;

·  Bundling.

3.  Horizons for Youth Capital Request

Mike Bossin, Chair of the Horizons for Youth Reuse Committee came before the committee to present a capital outlay request for a sum of  money for extraordinary repairs to stabilize or otherwise improve facilities and or structures located on the former Horizons for Youth property and to be put before the Special Town Meeting November 17, 2008.

4.  Other Items

            a.  Posting of the Capital Outlay Committee minutes will be                                     posted on the Sharon Town Website.

            b.  Not all Capital Outlay Requests are in yet.

5.  Next Meeting

                                    November 13, 2008

                                    Thursday, 7:00 p.m.

                              Selectmen's Meeting Room

MOTION:  To adjourn the meeting at 8:55 p.m. - unanimous