The appropriation and authorization to borrow $4,000,000 to provide funds for the reconstruction of various City streets and sidewalks

How it started

Apr 24, 2017 · Submitted by Louis A. DePasquale, City Manager.

What happened

Apr 24, 2017 · Passed to a second reading

May 22, 2017 · ✅ Adopted: the Council approved it (Order adopted, unanimous · one absent)

View the roll call

Voted yes (8), unanimous

Dennis Carlone
Jan Devereux
Craig A. Kelley
David Maher
Nadeem Mazen
Marc McGovern
Timothy J. Toomey
E. Denise Simmons

Absent (1)

Leland Cheung

Roll call of May 22, 2017 · from the council’s minutes · photos: City of Cambridge

The document Agenda item attachment · 1 page

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Agenda Item Number 3

APRIL 24, 2017

ORDERED: That $4,000,000 is appropriated for the purpose of financing the repair and/or reconstruction of various City streets and sidewalks; and to meet this appropriation the Treasurer with the approval of the City Manager is authorized to borrow $4,000,000 under Chapter 44 of the General Laws or any other enabling authority.

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.

🗓 The meeting where this was taken up: Apr 24, 2017