Transmitting Communication from Louis A. DePasquale, City Manager, relative to an order requesting the appropriation and authorization to borrow $5,000,000 to provide funds for the Municipal Facilities Improvement Plan

City of Cambridge Agenda Item Number 2 IN CITY COUNCIL APRIL 23, 2018 ORDERED: 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; • Interior and exterior improvements at the City Hall Annex • Ventilation improvements at Fire Department Headquarters and Porter Square Firehouse • HVAC, plumbing, lighting, electrical, accessibility, mechanical, and interior and exterior finish work at municipal buildings citywide 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 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.