Agenda Text
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Requesting an appropriation and authorization to borrow $7,000,000 in a bond for citywide water meter replacement.
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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 $7,000,000 in order to purchase and install water meters at homes and businesses Citywide. To meet said appropriation, the Treasurer will be authorized to borrow $7,000,000 as provided by MGL Chapter 44.
Water meters are utilized in homes and businesses to measure water use. Meters were last installed in 2008 and have reached the end of their useful life. New meters will improve accuracy, help conserve water, and better alert residents of leaks. Importantly, meters are a critical part of revenue generation to support related infrastructure.
This request is part of the FY2021 Capital Investment Plan. Debt service will be funded from the Water Enterprise Budget.
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