City of Somerville, Massachusetts - File #: 203663

• File #: 203663
• Version: 1
• Type: Mayor's Request
• Status: Approved
• File created: 6/7/2017
• In control: City Council
• On agenda: 6/8/2017
• Final action: 6/22/2017
• Enactment date: 6/8/2017
• Enactment #: 203663
• Title: Requesting the appropriation of $428,801 from the Unreserved Fund Balance ("Free Cash") to Debt Service Interest on Notes BAN to fully fund the account in FY2017.
• Code sections: Appropriation/Budget -

Date	Ver.	Action By	Action	Result
6/26/2017	6	BOA	Mayoral Approval
6/22/2017	5	City Council	Approved
6/22/2017	4	Finance	Recommended to be discharged with no recommendation
6/8/2017	3	City Council	Referred for recommendation

  Agenda Text

title

Requesting the appropriation of $428,801 from the Unreserved Fund Balance ("Free Cash") to Debt Service Interest on Notes BAN to fully fund the account in FY2017.

body

Official Text

To the Honorable Board:

I respectfully request an appropriation of $428,801from the Unreserved Fund Balance ("Free Cash") Account to the Debt Service, Interest on Notes-BAN Account and the Interest on Long-Term Debt Account, for the purpose of covering BAN Interest due and remaining bond interest due.

Estimates made at the 2017 Budget Hearings proved to be too low.

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

Respectfully Submitted,

Joseph A. Curtatone, Mayor