City of Somerville, Massachusetts - File #: 25-1679

• File #: 25-1679
• Version: 1
• Type: Mayor's Request
• Status: Approved
• File created: 11/8/2025
• In control: City Council
• On agenda: 11/13/2025
• Final action: 12/2/2025
• Enactment date: 11/25/2025
• Enactment #: 219771
• Title: Requesting the appropriation of $403,980 from the Unreserved Fund Balance ("Free Cash") to the Debt Service, Interest on Notes/BANS Account for payment of interest for the 90 Washington Street property acquisition.
• Indexes: Finance-Assessing, Finance-Auditing, Finance-Budget, Finance-Grants Development, Finance-Procurement & Contracting Services, Finance-Treasury, SPCD-Economic Development
• Code sections: Appropriation/Budget -

Date	Ver.	Action By	Action	Result
12/2/2025	1	City Council	Mayoral Approval
11/25/2025	1	City Council	Approved	Pass
11/19/2025	1	Finance Committee	Recommended to be approved	Pass
11/13/2025	1	City Council	Referred for recommendation

Agenda Summary

title

Requesting the appropriation of $403,980 from the Unreserved Fund Balance ("Free Cash") to the Debt Service, Interest on Notes/BANS Account for payment of interest for the 90 Washington Street property acquisition.

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Official Text

To the Honorable City Council:

The Mayor respectfully requests that this Council appropriate $403,980 from the Unreserved Fund Balance ("Free Cash") to the Debt Service, Interest on Notes/BANS account (0170059-592500) to pay interest on the short-term Bond Anticipation Note for the acquisition of the 90 Washington Street property.

Appropriate staff will be available to address any questions you may have. Thank you for your consideration of this item.

Respectfully Submitted,

Katjana Ballantyne, Mayor