A communication transmitted from Yi-An Huang, City Manager, relative to the appropriation and authorization to borrow $7,500,000 to provide funds for the sewer Combined Sewer Overflow Control Program.  

City of Cambridge Agenda Item Number 10 IN CITY COUNCIL April 27, 2026 ORDERED: that $7,500,000 is appropriated, in addition to any amounts previously appropriated, for the purpose of financing the sewer Combined Sewer Overflow Program including without limitation all costs thereof as defined in Section 1 of Chapter 29C of the General Laws; that to meet this appropriation the Treasurer with the approval of the City Manager is authorized to borrow $7,500,000 and issue bonds or notes therefore under G.L. c.44 and/or c. 29C or any other enabling authority; that such bonds or notes shall be general obligations of the City unless the Treasurer with the approval of the City Manager determines that they should be issued as limited obligations and may be secured by local system revenues as defined in Section 1 of G.L. c. 29C; that the Treasurer with the approval of the City Manager is authorized to borrow all or a portion of such amount from the Massachusetts Clean Water Trust established pursuant to G.L. c. 29C or from the Massachusetts Water Resources Authority (“MWRA”) and in connection therewith to enter into a loan agreement and/or a security agreement and/or financial assistance agreement with the Trust or the MWRA and otherwise to contract with the MWRA and the and the Department of Environmental Protection (“DEP”) with respect to such loan and for any federal or state aid available for the projects or for the financing thereof; and that the City Manager or any other authorized City official is authorized to enter into a project regulatory agreement with the DEP, to expend all funds available for the projects and to take any other action necessary to carry out the projects.