City of Somerville header
File #: 212058    Version: 1
Type: Mayor's Request Status: Approved
File created: 6/8/2021 In control: City Council
On agenda: 6/10/2021 Final action: 6/24/2021
Enactment date: 6/10/2021 Enactment #: 212058
Title: Requesting an appropriation and authorization to borrow $9,415,818 in a bond for the Spring Hill Sewer Separation Project water improvements.
Code sections: Bond/BAN -
Attachments: 1. Appropriation Order (Somerville) Spring Hill Sewer Improvements 06_072021

  Agenda Text

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Requesting an appropriation and authorization to borrow $9,415,818 in a bond for the Spring Hill Sewer Separation Project water 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 $9,415,818 in order to finance the cost of water improvements within the Spring Hill Sewer Separation Project Area. To meet said appropriation, the Treasurer will be authorized to borrow $9,415,818 as provided by MGL Chapter 44.

 

This debt service for this project will be financed by the Water Enterprise Fund.

 

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