City of Somerville header
File #: 23-0531    Version: 1
Type: Mayor's Request Status: Approved
File created: 4/5/2023 In control: City Council
On agenda: 4/13/2023 Final action: 5/3/2023
Enactment date: 4/27/2023 Enactment #: 215355
Title: Requesting authorization to borrow $2,000,000 in a bond, and to appropriate the same amount for additional work on the Somerville Ave Streetscape & Utilities project.
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 -
Attachments: 1. SAUSI Somerville Ave_Sewer Supplemental Project Request Form_FY23_CIP, 2. Bond Counsel Authorization_SAUSI Sewer Supplemental

Agenda Summary

title

Requesting authorization to borrow $2,000,000 in a bond, and to appropriate the same amount for additional work on the Somerville Ave Streetscape & Utilities project.

 

body

Official Text

To the Honorable City Council:

 

The Mayor respectfully requests that this Council appropriate $2,000,000 for additional work on the Somerville Ave Utilities & Streetscape (SAUSI) project, sewer portion. To meet this appropriation, the Treasurer will be authorized to borrow $2,000,000 as provided by MGL Chapter 44. Debt service will be paid from the Sewer Enterprise.

 

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