An order requesting the appropriation and authorization to borrow $1,100,000 to provide funds for the construction of …

ORDERED: That $1,100,000 is appropriated, in addition to any amounts previously appropriated, for the purpose of financing the design and construction of sewer separation, storm water management and combined sewer overflow reduction elimination improvements within the Cambridgeport Neighborhood. 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 $1,100,000 and issue bonds or notes therefore under G.L. c.44 and/or Chapter 29C of the General Laws 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 Chapter 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 Water Pollution Abatement Trust established pursuant to Chapter 29C or the Massachusetts Water Resources Authority 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 Authority and otherwise to contract with the Trust and the Authority and the Department of Environmental Protection 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 Department of Environmental Protection, to expend all funds available for the projects and to take any other action necessary to carry out the projects; and be it further ORDERED: That 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.