City of Somerville header
File #: 208627    Version: 1
Type: Mayor's Request Status: Approved
File created: 7/9/2019 In control: City Council
On agenda: 7/11/2019 Final action: 8/22/2019
Enactment date: 7/11/2019 Enactment #: 208627
Title: Requesting an appropriation and authorization to borrow $3,900,000 in a bond for sewer improvements.
Code sections: Bond/BAN -
Attachments: 1. Appropriation Order (Somerville) Sewer (Sewer Fund) 7-2019-c, 2. Sewer Bond Financial Backup

  Agenda Text

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Requesting an appropriation and authorization to borrow $3,900,000 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 $3,900,000 in order to fund the cost of structural rehabilitation of combined sewer and drain pipes and for work to correct illicit cross-connections. To meet said appropriation, the Treasurer will be authorized to borrow $3,900,000.as provided by MGL Chapter 44. Debt service will be funded by the Sewer Enterprise Fund.

 

This project is part of the FY2019-FY2028  Water & Sewer Capital Investment Plan. The project is noted under Sewer Improvements for FY2020.

 

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