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01-22-07 Minutes
January 22, 2007

        The Board of Finance held a special meeting on this date at the Police Station.  Members present were Glenn Frishman, Chairman, Andrew Rines, Secretary, John O’Brien, Dudley Wheeler and Bryan Bentz.  Not present, Kevin Burns.  

Mr. Frishman called the meeting to order at 7:30 p.m.

Establishment of retention fund for Flood damage
George Sylvestre, Director of Administrative Services provided an explanation for the creation of the Self Insured Retention Fund for the Town Dock.  He pointed out that this creates an immediate exposure to the Town if a loss were to occur before the amount is fully reserved.  The difference would need to be underwritten by the Town.
Motion was made to create a Self Insured Retention Fund in lieu of renewing flood insurance at Town Dock property.
Made by Dudley Wheeler, Seconded by Bryan Bentz, passed unanimously.

Mr. Bentz made a motion to adjourn the Public session of the special meeting.  Mr. Wheeler seconded the motion and the session was unanimously adjourned at 7:40 p.m.

Executive Session
Mr. Frishman convened the Executive session with a unanimous vote at 7:44 p.m.  Andrew Rines, John O’Brien, Dudley Wheeler, Bryan Bentz were present.

To discuss (1) the preliminary drafts or notes regarding the Town’s pay plan, (2) draft documents regarding the Town’s pay plan that are protected by the attorney-client privilege and/or (3) strategy and negotiations concerning collective bargaining.  Item number 3 is referenced without prejudice and the Board’s right to discuss in private strategy and/or negotiations with respect to collective bargaining pursuant to Connecticut General Statutes 1-200(2).

Members unanimously voted to come out of Executive session.

Mr. Bentz made a motion to adjourn the meeting.  Mr. Wheeler seconded the motion and the meeting was unanimously adjourned at 8:47 p.m.
                                        
                                                Respectfully submitted,


                                                Andrew W. Rines
                                                Secretary
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