City of Somerville, Massachusetts - File #: 22-1440

• File #: 22-1440
• 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 #: 214334
• Title: Requesting authorization to borrow $662,088 in a bond, and authorization to appropriate the same amount for the Sewer 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 $662,088 in a bond, and authorization to appropriate the same amount for the Sewer portion of the Clarendon Hills Infrastructure Improvements Project.

body

Official Text

To the Honorable City Council:

I respectfully request, subject to the approval of your Honorable City Council, an appropriation in the amount of $662,088 in order to fund the Sewer portion of the Clarendon Hill Infrastructure Improvements Project.  To meet said appropriation, the Treasurer will be authorized to borrow $662,088 as provided by MGL Chapter 44. Debt Service shall be paid from the Sewer Enterprise Fund. Borrowing for this project is subject to the provisions of the Clarendon Hill Project District Improvement Financing Program.

Appropriate staff will be available to answer any questions you may have. Thank you for your consideration of this matter.

Respectfully,

Katjana Ballantyne

Mayor