City of Somerville header
File #: 207531    Version: 1
Type: Mayor's Request Status: Approved
File created: 2/11/2019 In control: City Council
On agenda: 2/14/2019 Final action: 3/28/2019
Enactment date: 2/14/2019 Enactment #: 207531
Title: Requesting the appropriation of $77,620 from the Sewer Enterprise Fund Retained Earnings Account to the Sewer Enterprise Fund Debt Service Account in order to fully fund FY2019 Debt Service.
Code sections: Appropriation/Budget -

  Agenda Text

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Requesting the appropriation of $77,620 from the Sewer Enterprise Fund Retained Earnings Account to the Sewer Enterprise Fund Debt Service Account in order to fully fund FY2019 Debt Service.

 

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Official Text

To the Honorable City Council:

 

I respectfully request an appropriation of $77,620 from the Sewer Enterprise Fund Retained Earnings to the following accounts in the Sewer Enterprise Fund:

 

Principal on Long Term Debt -$59,801

Interest on Long Term Debt - $17,819

 

The purpose of the appropriation is to fully fund FY2019 Debt Service.

 

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