City of Somerville, Massachusetts - File #: 22-1663

• File #: 22-1663
• Version: 1
• Type: Mayor's Request
• Status: Approved
• File created: 10/6/2022
• In control: City Council
• On agenda: 10/13/2022
• Final action: 10/27/2022
• Enactment date: 10/25/2022
• Enactment #: 214475
• Title: Requesting authorization to borrow $7,110,000 in a bond, and to appropriate the same amount for the recurring FY23 Water Main Rehabilitation program.
• Indexes: Finance-Assessing, Finance-Auditing, Finance-Budget, Finance-Grants Development, Finance-Procurement & Contracting Services, Finance-Treasury, Infrastructure & Asset Management, Infrastructure-Engineering
• Code sections: Bond/BAN -

Date	Ver.	Action By	Action	Result
10/27/2022	1	City Council	Mayoral Approval
10/25/2022	1	City Council	Approved	Pass
10/20/2022	1	Finance Committee	Recommended to be approved	Fail
10/13/2022	1	City Council	Referred for recommendation	Pass

Agenda Summary

title

Requesting authorization to borrow $7,110,000 in a bond, and to appropriate the same amount for the recurring FY23 Water Main Rehabilitation program.

body

Official Text

To the Honorable City Council:

The Mayor respectfully requests that this Council appropriate $7,110,000 in order to conduct design, construction, and related water main distribution work as part of the recurring Water Main Rehabilitation program. To meet this appropriation, the Treasurer will be authorized to borrow $7,110,000 as provided by MGL Chapter 44. Debt service will be paid from the Water Enterprise fund.

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