City of Somerville header
File #: 202245    Version: 1
Type: Mayor's Request Status: Approved
File created: 10/12/2016 In control: City Council
On agenda: 10/13/2016 Final action: 11/22/2016
Enactment date: 10/13/2016 Enactment #: 202245
Title: Requesting an appropriation and authorization to borrow $2,500,000 in a bond for Sewer Main Rehabilitation and Replacement.
Code sections: Bond/BAN -
Attachments: 1. Appropriation Order (Somerville) Sewer 9_2016, 2. FY 17 Sewer Bond Request Attachment

  Agenda Text

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Requesting an appropriation and authorization to borrow $2,500,000 in a bond for Sewer Main Rehabilitation and Replacement.

 

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Official Text

To the Honorable Board:

 

I hereby request, subject to the approval of your Honorable Board, an appropriation in the amount of $2,500,000 in order to fund the costs of sewer main rehabilitation and replacement. To meet said appropriation, the Treasurer will be authorized to borrow $2,500,000 as provided by MGL Chapter 44.

Debt service will be paid from the Sewer Enterprise Fund and the Water/Sewer Stabilization Fund.

 

The Water Superintendent will provide detail on this request and will be available to answer any questions you may have. Thank you for your consideration of this matter.

 

Respectfully,

Joseph A. Curtatone, Mayor