May 11, 2020

“Upon a motion by Mr. Morgan and seconded by Mr. Ulfelder, the Board was polled and voted (5-0) That in order to reduce interest costs, the Treasurer is authorized to issue refunding bonds, at one time or from time to time, pursuant to Chapter 44, Section 21A of the General Laws, or pursuant to any other enabling authority, to refund the Town's outstanding $35,000,000 General Obligation School Bonds dated March 15, 2010 maturing on March 15 in the years 2021 through 2035, inclusive, (the "Refunded Bonds") and that the proceeds of any refunding bonds issued pursuant to this vote shall be used to pay the principal of, redemption premium, if any, and interest on the Refunded Bonds and costs of issuance of the Refunding Bonds. Further: that the sale of the $18,530,000 General Obligation Refunding Bonds of the Town dated May 21, 2020 (the "Bonds") to Janney Montgomery Scott LLC at the price of $21,133,724.21 and accrued interest is hereby approved and confirmed. The Bonds shall be payable on June 1 of the years and in the principal amounts and bear interest at the respective rates, as follows: Interest Interest Year Amount Rate Year Amount Rate 2021 $1,175,000 5.00% 2029 $1,270,000 5.00% 2022 1,205,000 5.00 2030 1,280,000 4.00 2023 1,210,000 5.00 2031 1,275,000 4.00 2024 1,225,000 5.00 2032 1,270,000 2.00 2025 1,235,000 5.00 2033 1,235,000 2.125 2026 1,250,000 5.00 2034 1,205,000 2.25 2027 1,255,000 5.00 2035 1,175,000 2.25 2028 1,265,000 5.00 Further: to approve the sale of $5,748,000 General Obligation Bond Anticipation Notes of the Town dated May 21, 2020 and payable May 21, 2021 (the "Notes") to JPMorgan Chase Bank NA, at par and accrued interest. Further: that in connection with the marketing and sale of the Bonds, the preparation and distribution of a Notice of Sale and Preliminary Official Statement dated April 28, 2020 and a final Official Statement dated May 5, 2020 (the "Official Statement"), each in such form as may be approved by the Town Treasurer, be and hereby are ratified, confirmed, approved and adopted. Further: that in connection with the marketing and sale of the Notes, the preparation and distribution of a Notice of Sale and Preliminary Official Statement dated April 28, 2020 and a final Official Statement dated May 5, 2020, each in such form as may be approved by the Town Treasurer, be and hereby are ratified, confirmed, approved and adopted. Further: that the Bonds shall be subject to redemption, at the option of the Town, upon such terms and conditions as are set forth in the Official Statement. Further: to authorize the execution and delivery of a Refunding Escrow Agreement to be dated May 21, 2020, between the Town and U.S. Bank National Association, as Refunding Escrow Agent. Further: that the Town Treasurer and the Board of Selectmen be, and hereby are, authorized to execute and deliver continuing and significant events disclosure undertakings in compliance with SEC Rule 15c2-12 in such forms as may be approved by bond counsel to the Town, which undertakings shall be incorporated by reference in the Bonds and Notes, as applicable, for the benefit of the holders of the Bonds and Notes from time to time. Further: that we authorize and direct the Town Treasurer to establish post issuance federal tax compliance procedures and continuing disclosure procedures in such forms as the Town Treasurer and bond counsel deem sufficient, or if such procedures are currently in place, to review and update said procedures, in order to monitor and maintain the tax-exempt status of the Bonds and Notes and to comply with relevant securities laws. Further: that each member of the Board of Selectmen, the Town Clerk and the Town Treasurer be and hereby are, authorized to take any and all such actions, and execute and deliver such certificates, receipts or other documents as may be determined by them, or any of them, to be necessary or convenient to carry into effect the provisions of the foregoing votes. Morgan - Aye Sullivan Woods - Aye Olney - Aye Ulfelder - Aye Freiman - Aye.” (Motion: Morgan, second: Ulfelder)

Read it in the official minutes, page 2 (PDF)