City of Somerville header
File #: 212415    Version: 1
Type: Mayor's Request Status: Approved
File created: 9/3/2021 In control: City Council
On agenda: 9/23/2021 Final action: 10/14/2021
Enactment date: 9/23/2021 Enactment #: 212415
Title: Requesting an appropriation and authorization to borrow $4,050,000 in a bond for sewer improvements.
Code sections: Bond/BAN -
Attachments: 1. Copy of Sewer Improvements_Capital Program Request Sheet_FY22 CIP, 2. Appropriation Order (Somerville) Sewer System Improvements - enterprise fund 09_2021, 3. Debt Service-Sewer Improvements FY2022

  Agenda Text

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Requesting an appropriation and authorization to borrow $4,050,000 in a bond for sewer improvements.

 

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Official Text

To the Honorable City Council:

 

I hereby request, subject to the approval of your Honorable City Council, an appropriation in the amount of $4,050,000 in order to fund the cost of structural rehabilitation of combined sewer and drain pipes. To meet said appropriation, the Treasurer will be authorized to borrow $4,050,000 as provided by MGL Chapter 44. Debt service will be funded by the Sewer Enterprise Fund.

 

This project is part of the FY21-FY31 Water & Sewer Capital Investment Plan. The project is noted under Sewer Improvements for FY22.

 

 

My staff will be available to answer any questions you may have. Thank you for your consideration of this matter.

 

Respectfully,

Joseph A. Curtatone, Mayor