City of Somerville header
File #: 206272    Version: 1
Type: Mayor's Request Status: Approved
File created: 6/27/2018 In control: City Council
On agenda: 6/28/2018 Final action: 6/28/2018
Enactment date: 6/28/2018 Enactment #: 206272
Title: Requesting the appropriation of $1,528,787 from the Sewer Retained Earnings Account to the Water/Sewer Stabilization Fund in order to accumulate capital for planned infrastructure projects.
Code sections: Stabilization Fund -

  Agenda Text

title

Requesting the appropriation of $1,528,787 from the Sewer Retained Earnings Account to the Water/Sewer Stabilization Fund in order to accumulate capital for planned infrastructure projects.

 

body

Official Text

To the Honorable Board:

 

I respectfully request an appropriation of $1,528,787 from the Sewer Retained Earnings Account to the Water/Sewer Stabilization Fund to accumulate capital funds for planned Infrastructure Projects in the Capital Investment Plan.  The appropriation represents 75% of the remaining balance in the Retained Earnings Account.

 

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

 

Respectfully Submitted,

Joseph A. Curtatone, Mayor