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File #: 25-2199    Version: Name:
Type: Financial Business Request (FBR) Status: Agenda Ready
File created: 7/9/2025 In control: Town Council
On agenda: 7/16/2025 Final action:
Title: MOTION to authorize the transfer from Account #21090305-58915 (CNR-Undesignated) to Account #21070101-57300 (CNR-Board of Education-New Equipment) and to authorize the appropriation of up to $400,000 from Account #21070101-57300 (CNR-Board of Education-New Equipment) for the emergency replacement of the Chiller at the Gales Ferry School. Upon future issuance of tax-exempt bonding reimburse such funds to Account #21090305-58915 (CNR-Undesignated); and, In anticipation of such reimbursement, declare the Town's official intent under Federal Income Tax Regulation Section 1.150-2 that project costs may be paid from temporary advances of available funds and that (except to the extent reimbursed from grant moneys) the Town reasonably expects to reimburse any such advances from the proceeds of borrowings in an aggregate principal amount not in excess of the amount of borrowing authorized above for the project
Attachments: 1. Board of Education - Chiller Replacment - Gales Ferry School- Bid Waiver Requested-Ltr-2025-07-08, 2. Proposal - GalFerSc-Replacement Chiller - Carrier, 3. Proposal - GalFerSc-Replacement Chiller - Carrier
FINANCIAL BUSINESS REQUEST (FBR)

Motion/Request:
title
MOTION to authorize the transfer from Account #21090305-58915 (CNR-Undesignated) to Account #21070101-57300 (CNR-Board of Education-New Equipment) and to authorize the appropriation of up to $400,000 from Account #21070101-57300 (CNR-Board of Education-New Equipment) for the emergency replacement of the Chiller at the Gales Ferry School.

Upon future issuance of tax-exempt bonding reimburse such funds to Account #21090305-58915 (CNR-Undesignated); and,

In anticipation of such reimbursement, declare the Town's official intent under Federal Income Tax Regulation Section 1.150-2 that project costs may be paid from temporary advances of available funds and that (except to the extent reimbursed from grant moneys) the Town reasonably expects to reimburse any such advances from the proceeds of borrowings in an aggregate principal amount not in excess of the amount of borrowing authorized above for the project
end


Background:

Town Council Meeting July 9, 2025: At the Board of Education request, a Bid Waiver was granted to the Tradesmen of New England.

However, a funding source was not identified at that time.


Board of Education July 8, 2025 Meeting:
At their July 8, 2025 meeting the Board of Education requested the Town Council grant a Bid Waiver to their current HVAC service provider (Tradesmen of New England) to replace the Chiller at the Gales Ferry School that recently failed

The Board of Education requested $380,000 in the Fiscal Year 2025/2026 Capital Budget to replace the Chiller at the Gales Ferry School. Recently the Chiller failed and based on the urgent need to replace the Chiller before the start of the new school year the Board of Education has requested a Bid Waiver to use their current HVAC service provider the Tradesmen of New England to do this work. (please see attached Letter, Proposal, and equipment cost)

In his letter dated July 8, 2025 BOE Chairman Anthony Favry noted the co...

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