January 12, 2009
7:00 p.m. – Town Council Chambers, Town Hall,
MEMBERS PRESENT:
Jeffrey C. Plumb and
MEMBERS ABSENT:
PLEDGE OF
ALLEGIANCE
A moment of silence for our men and women around the world in harm’s way and in memory of Senator Pell.
TOWN COUNCIL
CONSENT AGENDA
1. Thank you from The Frank Carson Family
2. CRMC
PUBLIC NOTICE
Philip Harkins, Plat 34,
CEASE AND DESIST ORDERS
Town Commonage Wharf LLC and Ford-Stratton Trust LLC,
Plat 6,
Cardi
Corporation, Plat 6,
A motion by Mr. Little, seconded by Mr. Seveney, to receive and place on file. All voted in favor of the motion.
BOARD OF LICENSE COMMISSIONERS
A motion by Mr. Seveney, seconded by Mr. Little, to go into Session as a Board of License
Commissioners. All voted in favor of the motion.
1.
A motion by Mr. Seveney, seconded by Mr. Little, to grant a Holiday License to Tenth Gate
Center for Yoga & Meditation,
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Page 2
PRIVATE DETECTIVE LICENSE
1. Charles N. Morin, 142 Viking Drive, d/b/a Chenega Security & Protection Services, LLC - NEW
A motion by Mr. Little, seconded by Mr. Seveney, to grant a Private Detective License to
Charles N. Morin, d/b/a Chenega Security
& Protection Services,
PEDDLER LICENSE
1. Longade, LLC d/b/a
A motion by Mr. Seveney, seconded by Mr. Little, to grant a Peddler License to Longade, LLC
d/b/a
REQUEST TO ADVERTISE FOR CLASS B LIQUOR LICENSES
1.
A motion by Mr. Seveney, seconded by Mr. Little, to advertise for Public Hearing the
application for a Class B Liquor License by Oceanside Enterprises, LLC d/b/a Custom
House Coffee,
2. Scampi, Inc. d/b/a Scampi, 657
J.Bannister,
A motion by Mr. Hamilton, seconded by Mr. Little, to advertise for Public Hearing the
application for a Class B Liquor License by Scampi, Inc.
d/b/a Scampi,
All voted in favor of the motion.
A motion by Mr. Little, seconded by Mr. Seveney, to adjourn as a Board of License
Commissioners. All voted in favor of the motion.
ADJOURN
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Page 3
TOWN COUNCIL
PRESIDENT’S EXECUTIVE
SUMMARY
The Town Council met on January 5, 2009 to select a Town Solicitor and Assistant Solicitor.
MINUTES – TCM 12/8/08, TCM 1/5/09 & Exec.
A motion by Mr. Little, seconded by Mr. Seveney, to accept the minutes as written. All voted in
favor of the motion.
BILLS – 2 listings: dated 12/17/08 (prepaid) and 1/12/09
A motion by Mr. Seveney, seconded by Mr. Little, to pay all just and due bills dated 12/17/08 in
the amount of $90,497.95 and those bills dated 1/12/09 in the amount of $105,512.12 All voted in favor of the motion.
TOWN ADMINISTRATOR’S
REPORT
APPOINTMENTS AND
RECOGNITIONS
1.
Resignation:
A motion by Mr. Little, seconded by Mr. Seveney, to receive with regret the resignation of Karen M. Ptak. All voted in favor of the motion.
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Page 4
2. Appointment Requests
a.
A motion by Mr. Seveney, seconded by Mr. Plumb, to appoint Louis Escobar, Sanne Kure- Jensen, and Martha A. Haynes to the Portsmouth Agricultural Committee. All voted in favor of the motion.
3. Tree Warden Re-appointment Request
A motion by Mr. Little, seconded by Mr. Seveney, to re-appoint Francis E. Charette, Jr., as Tree
Warden for 2009. All voted in favor of the motion.
OLD BUSINESS
OB 1 - Request Utility Easement to the
Mr. Driscoll noted the Public Works Director’s letter recommending Council’s approval of the easement.
A motion by Mr. Little, seconded by Mr. Seveney, to approve the request for the easement. All
voted in favor of the motion.
Chairman Rizy, asked to withdraw this item and defer it to a later meeting.
A motion by Mr. Little, seconded by Mr. Seveney, to approve the request. All voted in favor of
the motion.
OB 3 - Request Appointment of Alternate to the
A motion by Mr. Seveney, seconded by Mr. Little, to refer to the Portsmouth Redevelopment
Agency to discuss at their meeting on January 15th. All voted in favor of the motion.
No action.
NEW BUSINESS
NB 1 - Other Post Employment Benefits Actuarial Valuation Report
David Ward, Angell Pension Group, Inc. gave an overview to the Council.
TCM 1/12/09
Page 5
NB 2 - Request Approval of Proposed Rules & Regulations
for
Area
Mr. Faucher recommended the following change in language to the first line of #10: “Overnight camping outside the Melville Parks Campground is allowed for organized groups with an appropriate permit.”
A motion by Mr. Hamilton, seconded by Mr. Seveney, to approve the Proposed Rules &
Regulations with the noted change in language. All voted in favor of the motion.
Town of
Welcome
to the
The
Melville Park Committee members are the caretakers of the Park. We have created
these rules to help maintain the Park’s beauty and to protect its habitat. We
invite you to join us in our caretaking responsibilities for this public land.
Applications to become a volunteer member of the Committee may be obtained at
the Portsmouth Town Clerk’s office. More Park information is available at our
website: www.melvilleponds.org.
Park Rules and Regulations
1.
The trash policy is “Carry In/Carry Out”. Dispose of trash responsibly.
2.
Obey the directions given by Portsmouth Police and Fire personnel, properly
identified members of the Melville Park Committee, the Melville Campground Campmaster and assistants, or authorized representatives of
the Rhode Island Department of Environmental Management.
3.
All dogs must wear a collar with valid license tag. Town ordinance requires
dogs to be on a leash at all times.
4.
You are required to pick up after your dog, and Mutt Mitts are available.
5.
The hours of the Park are ˝ hour before sunrise to ˝ hour after sunset.
6.
Parking is allowed in the designated areas only. Motorbikes and motorcycles
must be parked in these designated areas.
7.
Fishing licenses are required. Fishing season runs from the first Saturday in
April to the last Saturday in February. The Rhode Island DEM stocks trout in
the upper pond, behind
8.
Permission to use metal detectors or other location devices must be obtained
from the Melville Park Committee.
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Page 6
9.
PROHIBITED ACTIVITIES.
The
following activities are expressly prohibited within the Park:
a.
Hunting and possession and use of weapons. Ceremonial props such as arrows or
spears must have soft (rubber) tips.
b.
Alcoholic beverages
c.
Offensive behavior and profanity
d.
Removal of natural habitat, with the exception of fish.
e.
Removal, digging or cutting of plant life, trees, shrubs, or other growth
f.
Smoking when the danger of fire is moderate to extreme
g.
Washing of vehicles, bicycles or animals in any natural body of water
h. Bathing, swimming, laundering in the waterways or ice skating
i.
Off-road recreational vehicles and dirt bikes on other than paved roads.
j.
Bicycle, scooter, skate board or other operator-propelled vehicles or devices,
except on paved roads. Exception is made for wheelchairs where terrain allows
k.
Piston-powered watercraft on ponds; electric motors are allowed
l
Defacing or altering any structure, sign, or other item of public property
m.
Disturbing, harassing or molesting any species of wildlife, including nesting
birds
10.
CAMPING.
Overnight
camping outside the Melville Ponds Campground is allowed for organized groups
with an appropriate permit. Permits for camping within the Park may be applied
for at the Melville Campground office. There must be one adult for every four
children (under the age of 18 years). There will be no more than 10 persons per
campsite.. Quiet hours are between 11pm and 7am.
Blaring music at any time is prohibited.
Having
a campfire requires a permit from the Portsmouth Fire Department. The ground
surrounding the campfire must be protected by a cleared berm
of rock or soil. The fire must be attended at all times and must be completely
extinguished before leaving the Park.
Maximum
campsite occupancy is 36 hours. Camping over the 36-hour limit is allowed for a
fee at the Melville Campground, adjacent to the Park (401-682-2424). Motorized
camping gear must use the Melville Campground.
A last word
Please
help protect this nature reserve for the enjoyment of all.
Approved
by
Approved
by
NB 3 - Request to Advertise for Zoning Ordinance Amendment Map 26, Lot 13 from Heavy Industrial to R40
A motion by Mr. Little, seconded by Mr. Seveney, to grant the request to advertise for a Public Hearing. All voted in favor of the motion.
NB 4 - Request for Renewal/Extension of the Lease Agreement
of
A motion by Mr. Little, seconded by Mr. Seveney, to take this under advisement. All voted in favor of the motion.
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Page 7
NB 5 - Request Permission to Receive Donations from Patriot Hauling For Paper Shredding Event/Solid Waste/Recycling Com.
A motion by Mr. Seveney, seconded by Mr. Plumb, to approve the request and place any
proceeds in the Transfer Station Enterprise Fund. All voted in favor of the motion.
NB 6 - Presentation: Fire Boat Purchase Request
A motion by Mr. Little, seconded by Mr. Seveney, to place this request on file. All voted in
favor of the motion.
NB 7 - Request: Begin process of applying to CRMC to reclassify a portion of State’s waters from Type 1 to Type 2
Councilman Plumb recused himself due to a possible conflict of interest.
A motion by Mr. Seveney, seconded by Mr. Little, to give Mr. Crosby permission to go forward
and look into this with CRMC. The motion carried 4-0 with Mr. Plumb recused.
NB 8 - Request for Support re: Traffic signal,
(
Mr. Driscoll said the Police Chief has prepared a letter to the State Traffic Commission.
A motion by Mr. Little, seconded by Mr. Seveney, to grant the request. All voted in favor of the motion.
NB 9 - Proposed Change to Planning Board Fee Schedule
A motion by Mr. Little, seconded by Mr. Seveney, to approve the proposed change to the
Planning Board Fee Schedule. All voted in favor of the motion.
NB 10- Proposed Projects List/RIDOT Proposed Federal Stimulus Projects List
Mr. Driscoll noted that the
A motion by Mr. Seveney, seconded by Mr. Little, to have Mr.
Driscoll take action asking the RIDOT why
the
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Page 8
NB 11- Request to Amend the Current Year Budget in April and September
Mr. Faucher said that for several years the Council has amended the budget in January, April and September. He has found that amending the budget in January is too early in the year to be meaningful.
A motion by Mr. Little, seconded by Mr. Plumb, to approve the request. All voted in favor of the motion.
NB 12- Request to Approve Investment Policy
A motion by Mr. Seveney, seconded by Mr. Plumb, to approve the Investment Policy. All voted
in favor of the motion.
TOWN OF
INVESTMENT POLICY
Table of
Contents
Section
1: Investment Policy Priorities and
Objectives
c)
Maintenance of Appropriate Liquidity
c)
Ethics/Conflicts of Interest
Section
3: Investment Portfolio
b)
Suitable and Authorized Investments
c)
Safekeeping and Custody of Securities.
a)
Financial Institutions & Broker Dealers
Section
5: Approval of Investment Policy
Consistent with the GFOA Policy Statement on State and
Local Laws Concerning Investment Practices and in accordance with Section
35-10-11 of the General Laws of the State of
The Town’s
investments shall conform to Section 35-10.1-3 of the General Laws of the State
of
Under no circumstances will investments be made in direct or indirect violation of the State statutes dealing with the investment of idle funds.
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Page 9
A primary objective of
the Town of
The investment portfolio shall remain sufficiently
liquid to meet all operating requirements that may be reasonably
anticipated. This is accomplished by
structuring the portfolio so that securities mature concurrent with cash needs
to meet anticipated demands. Furthermore,
since all possible cash demands cannot be anticipated, the portfolio should
consist largely of securities with active secondary or resale markets. Alternatively, a portion of the portfolio may
be placed in money market mutual funds or local government investment pools
which offer same-day liquidity for short-term funds.
The primary objectives of the
Town’s investment policy relative to risk are:
·
To minimize the
Town’s exposure to unnecessary risks including but not limited to default,
interest rate, liquidity, sovereign, and exchange;
·
To provide
competitive returns without sacrificing safety or compromising liquidity
requirements; and,
·
To insure
accountability for all transactions and internal controls on all investment activities.
The
Town will attempt to minimize common investment risks. The risks and methods adopted to mitigate
those risks are described below.
Default Risk: Exposure to loss due to non-payment by a
borrower of a financial obligation when it becomes payable. The risk of loss can be minimized by
diversifying assets, maintaining a high degree of quality in the portfolio,
assessing investment institutions and broker/dealers, and following state and
federal laws and GFOA guidance.
Interest Rate Risk: Exposure to
loss of earnings or portfolio market value due to uncertain future interest
rates. The Town will attempt to minimize
the risk of interest rate fluctuation by diversifying the portfolio and, to the
extent possible, laddering investments such that a portion of the portfolio
will be available for reinvestment at regular intervals
Liquidity Risk: Exposure to loss arising from a situation
where there will not be enough cash or cash equivalents to meet the needs of
the Town due to illiquid assets yielding less than fair value, or not selling
in a timely manner due to a lack of buyers.
The Town will minimize this risk by maintaining an adequate blend of
fixed income investments maturing at regular intervals and investing in assets
with a high degree of marketability.
Sovereign Risk: Exposure to loss
resulting from foreign political and economic disturbances. The Town will adhere to the list of approved
investments which are either obligations of the US Government, guaranteed by the
US Government, or insured under the Federal Deposit Insurance Corporation
(FDIC).
Exchange Risk: Exposure to loss
caused by adverse fluctuations in foreign currency exchange rates. The Town will attempt to minimize exchange
risk by investing only in US dollar denominated assets.
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Page 10
The investment portfolio shall be designed with the
objective of attaining a market rate of return throughout budgetary and economic cycles, taking into
account the investment risk constraints and liquidity needs. Return on
investment is of secondary importance compared to the safety and liquidity
objectives described
above. The core
investments are limited to relatively low risk securities in anticipation of
earning a fair return relative to the risk being assumed. Securities shall generally be held until
maturity with the following exceptions:
·
A security with
declining credit may be sold early to minimize loss of principal.
·
A security swap
would improve the quality, yield, or target duration in the portfolio.
· Liquidity needs of the portfolio require that
the security be sold.
The Town of
In administering the short term
investment policies of the Town, the Director of Finance will implement an
appropriate system of internal control designed to prevent the loss of public
funds arising from fraud, employee error, misrepresentation
by third parties, unanticipated changes in financial markets, or imprudent
actions by employees and officers of the Town.
The Town will follow the guidance
under Section 35-14-4 of the General Laws of the State of
The following are elements of a
satisfactory system of internal accounting and administrative controls:
·
A plan of
organization that provides segregation of duties appropriate for proper
safeguarding of assets
·
A plan that
limits access to assets to authorized personnel who require these assets in the
performance of their assigned duties
·
A system of
authorization and recordkeeping procedures adequate to provide effective
accounting control over assets, liabilities, revenues, and expenditures
·
An established
system of practices to be followed in performance of duties and functions
·
Personnel of a
quality commensurate with their responsibilities
·
An effective
system of internal review
This system of internal controls
will be reviewed annually as part of the audit process performed by an
independent audit firm.
Page 11
Town elected officials and employees involved in the
investment process shall refrain from personal business activity that could
conflict with the proper execution and management of the investment program, or
that could impair their ability to make impartial decisions. Employees and investment officials shall
disclose any material interest in financial institutions with which they
conduct business. They shall further
disclose any personal financial/investment positions that could be related to
the performance of the investment portfolio.
Employees and elected officials shall refrain from undertaking personal
investment transactions with the same individual with whom business is
conducted on behalf of the Town.
The Finance Office will monitor the portfolio monthly
and provide an annual investment report to the Town Council and Town
Administrator.
Consistent with the GFOA Policy Statement on State and
Local Laws Concerning Investment Practices, the following investments will be
permitted by this policy and are those defined by state and local law where
applicable:
·
U.S. Treasury
obligations which carry the full faith and credit guarantee of the
·
·
Certificates of
deposit and other evidences of deposit at financial institutions, not to exceed
the FDIC limits;
·
Investment-grade
obligations of state, provincial and local governments and public authorities;
·
Repurchase
agreements whose underlying purchased securities consist of the aforementioned
instruments;
·
Money market
mutual funds investing exclusively in U.S. Government and Agency obligations
and/or repurchase agreements, regulated by the Securities and Exchange
Commission and whose portfolios consist only of dollar-denominated securities;
and
·
Local government
investment pools either state-administered or developed through joint powers
statutes and other intergovernmental agreement legislation.
All securities purchased from
All investments shall be made in accordance with
Section 35-10.1 of the General Laws of the State of
·
Repurchase
Agreements - must be 102% collateralized by U.S. Governments Securities. The securities pledged for collateralization
should be held by the institution issuing the repurchase agreement
·
Certificates of
Deposits - must be collateralized if terms exceed 59 days.
·
All securities
issued as collateral must be U.S. Government Securities
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Page 12
·
All investments
that require collateralization must have a CUSIP # stated on the investment
confirmation
·
Substitution of
securities is only allowed when the original securities pledged lose their
market value and fall below the required 102% of the original Investment. The substitute securities must be perfected
before the original is removed.
·
The financial
institution must notify the Director of Finance immediately of any deficiency
in the pledged securities. A
confirmation must be reissued by the financial institution with the new CUSIP #
for substituted securities pledged.
It is the policy of the Town to diversify its
investment portfolios. To eliminate risk
of loss resulting from the over-concentration of assets in a specific maturity,
issuer, or class of securities, all cash and cash equivalent assets in all Town
funds shall be diversified by maturity, issuer, and class of security. Portfolio maturities shall be staggered to
avoid undue concentration of assets in a specific maturity sector. Maturities selected shall provide for
stability of income and reasonable liquidity.
To the extent possible, the Town
shall attempt to match its investments with anticipated cash flow requirements. Unless matched to a specific cash flow, the
Town will not directly invest in securities maturing more than five (5) years
from the date of purchase. The Town shall adopt weighted average maturity
limitations consistent with investment objectives.
Because of
inherent difficulties in accurately forecasting cash flow requirements, a
portion of the portfolio should be continuously invested in readily available
funds such as local government investment pools, money market funds, savings
accounts or overnight repurchase agreements to ensure that appropriate
liquidity is maintained to meet ongoing obligations.
All
financial institutions and broker/dealers who desire to become qualified for
investment transactions must supply the following as appropriate:
·
Audited financial
statements demonstrating compliance with State and federal capital adequacy
guidelines;
·
Proof of National
Association of Securities Dealers (NASD) certification (not applicable to
Certificate of Deposit counterparties);
·
Proof of State
registration;
·
Certification of
having read and understood and agreeing to comply with the Town’s investment
policy; and,
·
Evidence of
adequate insurance coverage.
An annual review of the financial condition and
registration of all qualified financial institutions and broker/dealers will be
conducted by the Director of Finance. Only approved financial institutions and
broker/dealers will be used by the Town.
All broker/dealers must be regulated by the Securities and Exchange
Commission and be members in good standing of the National Association of
Securities Dealers.
The Director of Finance is responsible for evaluating
each investment that the Town is considering for purchase, and will qualify,
and approve such investments in advance of investing funds. The Director of
Finance shall maintain a listing of all institutions and broker/dealers whose
securities are authorized for purchase by the Town.
TCM 1/12/09
Page 13
Analysis of credit worthiness of financial
institutions will be completed by the Director of Finance in one of two
ways. A nationally recognized rating
service will be utilized for those institutions providing data to the
service. Alternatively, the Director of
Finance will analyze quarterly, semi-annual and/or annual financial statements
provided by institutions not covered by the rating service. At a minimum, the Director of Finance will
conduct a semi-annual review of each firm to determine whether it should remain
on the qualified list. Analysis of the
institutions will include the following factors:
1. Capital adequacy;
2. Asset quality;
3. Management competence;
4. Earnings ability;
5. Liquidity risk; and,
6. Sensitivity to market risk.
Only those institutions meeting or exceeding the
criteria may be included in the list.
The
investment policy shall be formally approved and adopted by the Town Council
and reviewed annually.
NB 13- Request for Award of Gasoline & Diesel Fuel Contract
A motion by Mr. Seveney, seconded by Mr. Hamilton, to approve the award of a Gasoline &
Diesel Fuel Contract for 1/1/09 to 12/31/09 to Dennis K. Burke. All voted in favor of the motion.
NB 14- Request for Rate Increase for Ambulance Services
A motion by Mr. Little, seconded by Mr. Plumb, to approve the rate increase effective 2/1/09.
All voted in favor of the motion.
NB 15- Tax Vouchers #20090112 01 – 20090112 19 and Tax Vouchers #20090112 01A – 20090112 04 A
A motion by Mr. Seveney, seconded by Mr. Hamilton, to approve Tax Vouchers #20090112 01
– 20090112 19 and Tax Vouchers #20090112 01A – 20090112 04 A. All voted in favor of the motion.
CORRESPONDENCE
1. Abutter Notification: Special Use Permit to use as a temporary staging area/depot in support of work being done on the Mt. Hope Bridge/J.Nott
2. Pension Fund Actuarial Valuation/D.P.Faucher
3. FYI/Revised Speed
Limit East Main Road,
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Page 14
4. FYI/Town of Portsmouth audited financial report and management letter, extension granted to January 30, 2009/ Office of the Auditor General/E.A.Almonte
5. Proposed Rate
Increase/City of
6. Procedural
Schedule for City of
7. Thank you for 2008 Post Prom Party Support/2008 PHS Post Prom Committee
A motion by Mr. Little, seconded by Mr. Seveney, to receive and place on file. All voted in favor of the motion.
FUTURE MEETINGS
Jan. 21 – 7:00 p.m. – Town Council & School Committee on FY 09 and FY 10 Budget
Status, Priorities & Issues
Jan. 26 – 7:00 p.m. – Town Council Meeting
Feb. 9 – 7:00 p.m. – Town Council Meeting
EXECUTIVE SESSION – None.
A motion by Mr. Little, seconded by Mr. Seveney, to adjourn. All voted in favor of the motion.
ADJOURN
TIME: 8:45 p.m.
_________________________________
Joanne M. Mower