Agenda Summary
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Requesting approval to appropriate $498,670 in unused bond proceeds from completed capital projects to the Edgerly Building Improvement Project for capital repairs to the Edgerly Education Center.
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Official Text
To the Honorable City Council:
The Mayor respectfully requests that this Council appropriate $498,670 in existing bond proceeds from the below listed, completed capital projects to the Edgerly Building Improvement Project (Fund 5184) for capital repairs and renovation of the Edgerly Education Center.
All of the capital projects in the below list have been completed and no liabilities exist. The balances listed are residual balances. Under M.G.L. Chapter 44, Section 20, residual balances may be appropriated by a city for any purposes for which a loan may be incurred for an equal or longer period of time than that for which the original loan was issued. The renovations to the Edgerly Education Center fit this criteria.
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Require Authorization to reallocate Bond proceeds |
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5063 |
Outdoor Ice Skate Rink |
2,422.34 |
|
5075 |
ISD Office Renovation |
3,702.37 |
|
5048 |
Financial integrated system |
5,463.57 |
|
5054 |
Public Safety building |
8,568.00 |
|
5089 |
North street veteran playground |
19,055.00 |
|
5091 |
Central Broadway |
4,531.97 |
|
5092 |
Kenny Park Improvement |
3,086.69 |
|
5106 |
James MC Field Lighting |
5,000.00 |
|
5145 |
Buena Vista Garage |
14,318.66 |
|
5149 |
West Branch Library Construction |
432,521.82 |
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498,670.42 |
Appropriate staff will be available to answer any questions about this bond you may have. Thank you for your consideration of this matter.
Respectfully,
Katjana Ballantyne, Mayor