| Her Honor the Mayor |
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Maureen Lemieux Executive |
#109-24 |
Authorization to appropriate and expend the amount of $2.3 million from the Overlay Surplus and $5.5 million from the ATB Interest and Penalties account to NEWCAL, reducing bonding authorization |
HER HONOR THE MAYOR requesting authorization to appropriate and expend a total of seven-million, eight-hundred thousand dollars ($7.8 million) for the NewCAL project to reduce the amount of funding the City would need to borrow for that project. The $7.8 million is comprised of two funding sources related to the Eversource agreement: (1) five-million, five-hundred thousand ($5.5 million), transferred from the ATB Interest and Penalties account, and (2) two-million, three-hundred thousand ($2.3 million) from Overlay Surplus. As a result, I am also requesting authorization to rescind $7.8 million of bond authorization for the NewCAL project. |
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02-14-24
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