Agenda Summary
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Requesting authorization to borrow $6,878,900 in a bond, and to appropriate the same amount for various sewer improvement projects as part of participation in the Massachusetts Water Resources Authority (MWRA) I/I Local Financial Assistance Program, Phases 9-11.
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Official Text
To the Honorable City Council:
The Mayor respectfully requests that this Council appropriate $6,878,900 in order to conduct design, construction, and other sewer rehabilitation work related to the reduction of infiltration and inflow (I/I) as part of Phases 9 through 11 of the MWRA I/I Local Financial Assistance Program. The Program allocates monies to be used to perform local I/I reduction and sewer rehabilitation on eligible projects, and these funds will be used to supplement existing authorizations for various recurring and discrete projects. The MWRA program funds are distributed as 75% grant funds and 25% interest-free loans for eligible projects. The authorization to borrow will be reduced by any grant monies received. To meet this appropriation, the Treasurer will be authorized to borrow $6,878,900 as provided by MGL Chapter 44. Debt service will be paid from the Sewer Enterprise fund.
Appropriate staff will be available to answer any questions about this bond you may have. Thank you for your consideration of this matter.
Respectfully,
Katjana Ballantyne, Mayor