SAUGUS – When the Board of Selectmen called for a special Town Meeting for Oct. 27, they also called upon their colleagues to show some fiscal restraint.The meeting is aimed at taking care of several financial issues, including funding the remainder of the Kasabuski Arena deficit, ironing out flaws in the new water rates and, according to Town Manager Andrew Bisignani, transferring some small appropriation to tie up loose financial ends.What selectmen don’t want to see is any financial stability given away to special interest warrant articles.Selectman Michael Kelleher asked his fellow board members to join him in asking Town Meeting members to show some fiscal restraint when considering the warrant articles.”The town is still recovering, it’s not recovered,” he said. “We still have financial issues and the state just borrowed $1.3 billion.”When state officials annou-nced last week they needed to borrow over $1 billion in order to pay communities the aid it had promised, Bisignani said for him, it sounded an alarm. He said his biggest fear is that the state will pay off the loan on the backs of cities and towns by cutting financial aid.He said even if the state only cuts “earmarks,” or special interest funding, that, too, would affect the town because the Senior Center and the Youth and Recreation Department are run on earmarks.With warrant articles that seek funding for everything from handicap ramps to trees, to $75,000 for the Youth and Recreation Center and a funding request for an archeological survey of the town, Kelleher warns that Town Meeting must be prudent.Selectman Chairman Donald Wong added that he, too, believed a little restraint would probably be wise.Town Moderator Robert Long said he thought a request for fiscal discretion “was a novel approach for that group.”However, he said he had no fear that meeting members would run amok with spending capabilities.Long admitted that several months ago when it looked like the town might have surplus funds, there was some thought of spending.”But no one really understood the depth of the state’s financial problems,” he said. “Now when Andy says he’s concerned about the state’s receipts . . . when push comes to shove they don’t have to pay us.”Long said considering the special Town Meeting was called so close to the election and the holidays are right behind, he doesn’t believe anyone will do much spending.”I would think that if anyone wants to do real spending we would come back after the first of the year,” he said. “I think most of us are inclined to sit back and say ?whoa’ and just catch our breath for a little while.”The Finance Committee also holds its six-month review in late January, which Long said, would give everyone a better idea of just where the town stands financially.