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CMA 2017 #36 · Agenda item attachment · Feb 6 2017
A communication transmitted from Louis A. DePasquale, City Manager, relative to an order requesting the appropriation and authorization to borrow $2,300,000 to provide funds for the design, drainage, and installation of new field surfaces at Russell Field and the Graham and Parks School
City of Cambridge
Agenda Item Number 5
IN CITY COUNCIL
FEBRUARY 6, 2017
ORDERED:
That $2,300,000 is appropriated, for the purpose of financing the design, drainage, and
installation of new field surfaces at Russell Field and Graham & Parks School; and that
to meet this appropriation the Treasurer with the approval of the City Manager is
authorized to borrow $2,300,000 under Chapter 44 of the General Laws or any other
enabling authority; and be it further
ORDERED:
Any premium received by the City upon the sale of any bonds or notes approved by
this vote, less the cost of preparing issuing and marketing them, and any accrued
interest received upon the delivery of such bonds or notes, shall be applied to the
payment of project costs approved by this vote, thereby reducing the amount
authorized to be borrowed to pay such costs by a like amount.