Warrant Article of the Day
Article 22: Transfer to Capital Stabilization
The Town is requesting to transfer $350,000 into the Town’s Capital Stabilization Account. The Capital Stabilization account is the town’s savings account to purchase capital items. The purpose of this stabilization fund is to accumulate money in order to purchase larger capital items without relying on debt. To appropriate from the Town’s Stabilization account requires a 2/3rd vote of Town Meeting.
To learn more about Stabilization funds visit: https://www.mass.gov/files/documents/2017/09/11/igr17-20.pdf
https://sites.google.com/northandoverma.gov/annual-town-meeting-2021/home
