City of Somerville header
File #: 214030    Version: 1
Type: Mayor's Request Status: Approved
File created: 6/18/2022 In control: City Council
On agenda: 6/23/2022 Final action: 6/23/2022
Enactment date: 6/23/2022 Enactment #: 214030
Title: Requesting an appropriation and authorization to borrow $2,680,000 in a bond, for repairs and improvements to city-owned buildings.
Code sections: Bond/BAN -
Attachments: 1. Copy of Building Improvements_Capital Program Request Sheet_FY22 CIP, 2. Appropriation Order (Somerville) Municipal Building Repairs 6_2022, 3. Building Improvements FY22 Debt Service

  Agenda Text

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Requesting an appropriation and authorization to borrow $2,680,000 in a bond, for repairs and improvements to city-owned buildings.

 

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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 $2,680,000 in order to finance repairs and improvements to city owned buildings. To meet said appropriation, the Treasurer will be authorized to borrow $2,680,000 as provided by MGL Chapter 44.

 

The appropriation is the FY22 budgeted amount for borrowing for Building Improvements in the current  Capital Investment Plan. (CIP).

 

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

 

Respectfully,

Katjana Ballantyne, Mayor