December 12, 2018

Old Lyme Holds Annual Budget Meeting Tonight

The Old Lyme Board of Selectmen will host the Annual Budget Meeting on Monday, May 21, at 7:30 p.m. in the Lyme-Old Lyme Middle School auditorium at 18, Lyme Street in Old Lyme.  Agenda items, which may be voted on at the meeting, include:

  • The adoption of the budget for the fiscal year July 1, 2018 to June 30, 2019, as recommended by the Old Lyme Board of Finance.
  • A proposal that taxes in the Town of Old Lyme on Real Property and Personal Property will be paid in two equal semi-annual installments with the first payment due on July 1, of this year and the second payment due on Jan. 1, 2019.  Any taxes of less than $100 for the year will be due in one payment on July 1, of this year and any taxes in any amount owed for vehicles will be due in one payment on Jan. 1, 2019.
  • A proposal that the Old Lyme First Selectwoman is authorized to execute the “Old Lyme Fire Department, Inc. And Old Lyme South End Volunteer Ambulance Association, Inc. Retirement Plan,” amended and restated effective Jan. 1, 2018 (“Plan”), and the “Amended And Restated Trust Agreement For The Old Lyme Fire Department Inc. And Old Lyme South End Volunteer Ambulance Association, Inc. Retirement Plan” (“Trust”). This proposal also authorizes the First Selectwoman, the Board of Selectmen and the Town of Old Lyme and/or their respective designees, without need for additional approval by the Town Meeting, to exercise all rights and perform all duties given them by the Plan and the Trust, including:
    • appointment of a Pension Committee and of a Trustee(s),
    • making of agreements with the trustee(s),
    • making of amendments to the Plan and/or to the Trust and any agreements made in relation thereto.
  • A proposal that the sum of $80,000 should be appropriated for use by the board of selectmen to pay expenses incurred by the Town as a result of the need to amend and restate the Plan and create the Trust (as defined above.)
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