CMA 2017 #91 · Agenda item attachment · Apr 24 2017

City of Cambridge Agenda Item Number 5 IN CITY COUNCIL April 24, 2017 ORDERED: That $5,000,000 is appropriated, in addition to any amounts previously appropriated, for the purpose of planning and financing building renovations, including but not limited to the following projects in the municipal facilities improvement plan:  Improvements at Fire houses including Inman Square, Taylor Square, and East Cambridge  Repairs and upgrades at the Main Library, RWH Public Safety Building, the Electrical Department shop at Third and Gore Street and  Fire Safety, energy conservation, and accessibility upgrades at a number of municipal buildings; and to meet this appropriation the Treasurer with the approval of the City Manager is authorized to borrow $5,000,000 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.