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The subcommittee voted 5-0 to have the Town Manager draft an article creating a Capital Stabilization Fund for consideration at a Special Town Meeting.
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The proposed fund would provide a framework for financing major town and school building projects, but the committee discussed creating it without initially funding it. Potential parameters include projects costing about $20 million to $50 million, possible funding through multiple sources, and rules for using and releasing money. The Town Manager will work with Town Counsel to refine the proposal and return it for review.
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