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CMA 2017 #90 · Agenda item attachment · Apr 24 2017
Transmitting Communication from Louis A. DePasquale, City Manager, relative to the appropriation and authorization to borrow $2,000,000 to provide funds for various School building infrastructure projects including roof repairs at the Fletcher Maynard Academy, and a new boiler at an elementary school
City of Cambridge
Agenda Item Number 4
IN CITY COUNCIL
April 24, 2017
ORDERED:
That $2,000,000 is appropriated, for the purpose of financing building renovations,
including but not limited to, the following projects:
Roof repairs at the Fletcher Maynard Academy, and
Boiler replacement at an elementary school; and to meet this appropriation the
Treasurer with the approval of the City Manager is authorized to borrow $2,000,000
under Chapter 44 of the General Laws or any other enabling authority.
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.