City of Somerville header
File #: 207523    Version: 1
Type: Mayor's Request Status: Placed on File
File created: 12/31/2018 In control: City Council
On agenda: 2/14/2019 Final action: 5/9/2019
Enactment date: 2/14/2019 Enactment #: 207523
Title: Requesting an appropriation and authorization to borrow $457,325 in a bond for the creation of recreational land through the ArtFarm project, with debt payments to be funded through CPA revenue.
Code sections: Bond/BAN -
Attachments: 1. ArtFarm CPC Funding Recommendation, 2. 70730261_1-Appropriation Order (Somerville) ArtFarm 2-11-19-c

  Agenda Text

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Requesting an appropriation and authorization to borrow $457,325 in a bond for the creation of recreational land through the ArtFarm project, with debt payments to be funded through CPA revenue.

 

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Official Text

To the Honorable City Council:

 

Per the Community Preservation Committee's recommendation on December 11, 2019, I respectfully request that your Honorable Council appropriate $457,325 for the creation of recreational land through the City of Somerville's ArtFarm project, and authorize the City Treasurer, with the approval of the Mayor, to borrow $457,325 to meet said appropriation with debt payments to be funded through CPA revenue. Details of this request are available in the attached funding recommendation from the CPC.

Thank you for your consideration of this matter.

 

Respectfully submitted,

 

Joseph A. Curtatone

Mayor