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CMA 2017 #124 · Agenda item attachment · May 8 2017
A communication transmitted from Louis A. DePasquale, City Manager, relative to a loan order requesting the authorization to refund prior bond issue(s)
City of Cambridge
Agenda Item Number 3
IN CITY COUNCIL
May 8, 2017
ORDERED:
That in order to reduce interest costs, the Treasurer, with the approval of the City
Manager, is authorized to issue refunding bonds, at one time or from time to time,
pursuant to Chapter 44, Section 21A of the General Laws, or pursuant to any other
enabling authority, to refund all or any portion of the City’s general obligation bonds
outstanding as of the date of adoption of this Order, and that the proceeds of any
refunding bonds issued pursuant to this vote shall be used to pay the principal,
redemption premium and interest on the bonds of the City to be refunded, and costs of
issuance of the refunding bonds; and that the Treasurer is authorized to execute such
documents as may be necessary or desirable to carry out this transaction, including one
or more refunding trust agreements with a bank or trust company.