City of Somerville, Massachusetts - File #: 22-1439

• File #: 22-1439
• Version: 1
• Type: Mayor's Request
• Status: Approved
• File created: 8/17/2022
• In control: City Council
• On agenda: 8/25/2022
• Final action: 9/29/2022
• Enactment date: 9/22/2022
• Enactment #: 214333
• Title: Requesting authorization to borrow $993,132 in a bond, and to authorization to appropriate the same amount for the General Fund portion of the Clarendon Hills Infrastructure Improvements project.
• Indexes: Finance-Assessing, Finance-Auditing, Finance-Budget, Finance-Grants Development, Finance-Procurement & Contracting Services, Finance-Treasury, Infrastructure & Asset Management, Infrastructure-Capital Projects, Infrastructure-Engineering
• Code sections: Bond/BAN -

Date	Ver.	Action By	Action	Result
9/29/2022	1	City Council	Mayoral Approval
9/22/2022	1	City Council	Approved	Pass
9/20/2022	1	Finance Committee	Recommended to be approved	Pass
9/6/2022	1	Finance Committee	Kept in committee
8/25/2022	1	City Council	Referred for recommendation	Pass

Agenda Text

title

Requesting authorization to borrow $993,132 in a bond, and to authorization to appropriate the same amount for the General Fund portion of the Clarendon Hills Infrastructure Improvements project.

body

Official Text

To the Honorable City Council:

The Mayor respectfully requests that this Council appropriate $993,132 in order to fund the General Fund portion of the Clarendon Hills Infrastructure Improvements project. To meet this appropriation, the Treasurer will be authorized to borrow $993,182 as provided by MGL Chapter 44. Borrowing for this project is subject to the district improvement financing (DIF) project area.

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