June 2, 2009 Town Board Meeting

1-The Board unanimously approved the amending of a water agreement between the City of Watervliet and the Town of Guilderland. The Watervliet Reservoir, owned by Watervliet, is the principal source of water for Guilderland. Guilderland pays Watervliet for the water.

The old contract was unusual because it was based on a formula reflecting the consumer price index of 1993, which caused the payments to accelerate. With the new contract, a price adjustment would be made annually.

The new agreement runs through the year 2028. The previous contract had run through 2017.

2-An important discussion took place involving pension contributions by the Town. Supervisor Runion said the Town's current pension contribution is $1.4 million a year. He said that could increase by $500,000 to $700,000 by 2011 given the state of the economy and the markets. The State determines the percentage municipalities must contribute to their pension funds in order to meet its obligations to retirees.