Special Board of Aldermen 12-07-2021 Page 21
Chairman Dowd
Hello, Treasurer Fredette you want to answer that? If we don't spend the money. | think | know but | think I'd rather
have the answer come from the Treasurer.
Laurie Ortolano
Thank you.
David Fredette, Treasurer/Tax Collector
We don't have this problem very often. | haven't seen it for quite a while but we may be able to use it to help make
payments on bonds but okay the principal on bonds. But there's a lot of IRS rules on that because these are non-
taxable bonds that we Sell. So there's rules on that. That's possibly one area that it could be used for.
Steve Bolton, Corporation Counsel
Mr. Chairman. We have to either use it to repay the principal on the bond or transfer it to another bondable
expenditure.
Chairman Dowd
I'm assuming testimony from Mr. Hudson that we have sidewalks in desperate need of repair and that's sort of a
safety issue.
Laurie Ortolano
So just a point of clarification.
Chairman Dowd
Excuse me, who’s speaking?
Laurie Ortolano
It's Laurie Ortolano. You know | would like you to consider changing the rules when you have a hearing so that we
can ask more than one question because clarification is important. If | want to back something, | want to understand
it. I'm just trying to understand what attorney Bolton said. So if the money has to be used toward the principal or on
the bond, you have this extra money from the LED projects. We are allowed to transfer it over to do sidewalks. Do
we have any money currently earmarked to address sidewalk issues?
Chairman Dowd
| think it was just pointed out that monies are collected when people do developments towards sidewalks and that
money is already being used to repair some sidewalks. This would be the additional funds so we can fix more of the
sidewalks that are in total disrepair.
Alderman O’Brien
30 seconds.
Laurie Ortolano
Okay. Well, we just finished redoing all the handicap ramps on sidewalks or I've been working on a big project on that
now. Was that done by impact fees or was that a separately funded project?
Dan Hudson, City Engineer
Sure. So the work we've been doing on the ramps is related to the paving program per federal regulations were
required to replace the ramp access or actually to make it ADA compliant. | should be clear. The ADA access to the
sidewalk system, so that work has been done and paid for as part of the paving program, although that is work that
