Agenda Text
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Requesting the appropriation of $876 in unused bond funds for the purchase of DPW vehicles.
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Official Text
To the Honorable Board:
I hereby request, subject to the approval of your Honorable Board, an appropriation of $876 from unused bond funds from the below listed completed vehicle purchases, for the purpose of completing the funding of DPW vehicles. Original authorization was for $750,876.00, but borrowing occurs in $1,000 denominations and thus only $750,000 was borrowed.
The following projects have been deemed complete and maintain unexpended balances:
Recreation Van- $505.00
Fire Vehicles -$356.63
Police Vehicles -$14.37
Under Chapter 44, Section 20 of the M.G.L., unexpended bond proceeds from completed projects "may at any time 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, including temporary debt, was issued."
DPW vehicles qualifiy as a "like purpose".
Respectfully,
Joseph A. Curtatone
Mayor