City of Somerville header
File #: 24-0644    Version: 1
Type: Mayor's Request Status: Approved
File created: 5/2/2024 In control: City Council
On agenda: 5/9/2024 Final action: 5/29/2024
Enactment date: 5/23/2024 Enactment #: 217109
Title: Requesting authorization to borrow $3,010,000 in a bond, and to appropriate the same amount for the recurring FY 2024 Building Improvements program.
Indexes: Finance-Assessing, Finance-Auditing, Finance-Budget, Finance-Grants Development, Finance-Procurement & Contracting Services, Finance-Treasury, Infrastructure-Capital Projects
Code sections: Bond/BAN -
Attachments: 1. Building Improvements_Capital Program Request Sheet_FY24 CIP, 2. Appropriation Order (Somerville) Building Improvements 4_24_$3,010,000

Agenda Summary

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Requesting authorization to borrow $3,010,000 in a bond, and to appropriate the same amount for the recurring FY 2024 Building Improvements program.

 

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Official Text

To the Honorable City Council:

 

The Mayor respectfully requests that this Council appropriate $3,010,000 in order to fund the FY24 Building Improvements program as a recurring item on the annual CIP. To meet this appropriation, the Treasurer will be authorized to borrow $3,010,000 as provided by MGL Chapter 44. Debt service will be paid from the General Fund.

 

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