Agenda Text
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Requesting an appropriation of $301,000 from unexpended bond proceeds from the Argenziano School Construction Project to fund needed building renovations at the Public Safety Building.
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Official Text
To the Honorable Board:
I hereby request, subject to the approval of your Honorable Board, an appropriation of $301,000 from the remaining balance of $416,933 from the Argenziano School Construction Project to fund needed renovations to the Public Safety Building.
The Argenziano School Construction Project has been completed. An unexpended balance of $416,933 remains from the $35,728,596 appropriated. Chapter 44, Section 20 of the Massachusetts General Laws states that the remaining proceeds “may at any time be appropriated by a city, town, or district for any purposes for which a loan may be incurred for an equal or longer period of time than that for which the original loan, including temporary debt, was issued.”
The Argenziano School Construction Project was authorized under Ch.44, Section 7, Subsection 3 of the M.G.L., which prescribes a borrowing period of twenty (20) years.
Similarly, the borrowing for any necessary renovations to the Public Safety Building would be authorized under Ch.44, Section 7, Subsection 3A of the M.G.L. which also prescribes a borrowing period of twenty (20) years. The Public Safety Building renovations constitute a “like purpose” so the unexpended balance from the Argenziano School Construction Project may be appropriated to defray renovation costs for the Public Safety Building.
The appropriation will include repairs to the Sallyport and garage, the roof, and brick repointing.
Favorable action by your Honorable Board will eliminate the need to borrow an additional $301,000 to complete the renovations to the Public Safety Building. A two-thirds vote of your Honorable Board is required to approve this measure.
Thank you for your consideration.
Respectfully,
Joseph A. Curtatone