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File #:
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542-16
Version:
1
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Name:
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Type:
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Committee Report
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Status:
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Passed
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On agenda:
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12/13/2016
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Final action:
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12/13/2016
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Title:
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Committee Report: Finance (Paper #513-13 That Treasurer be authorized to borrow $4,000,000 for reconstruction of certain roads)
The Standing Committee on Finance, to whom was referred Paper #513, Series of 2016, having considered the same make the following report: Committee recommends that this paper be reported out favorably with the following amendment: That the paper be amended to read as follows:
Ordered: That the sum of $4,000,000 is appropriated to pay costs of street reconstruction, including the payment of all costs incidental and related thereto, for the following streets: High St., Adams St.; Bowers St., Earl St.; Pine St.; Savin St.; Desmond St.; Fellsmere Rd.; Kimball St.; Huntley St; Fergusin Rd.; North Milton St.; Erickson St.; Freemont St.; Kennard St; Franklin St; Judson St., and that to meet this appropriation, the Treasurer, with the approval of the Mayor, is authorized to borrow said amount under and pursuant to Chapter 44, Section 7(1) of the General Laws or pursua...
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Title
Committee Report: Finance (Paper #513-13 That Treasurer be authorized to borrow $4,000,000 for reconstruction of certain roads)
The Standing Committee on Finance, to whom was referred Paper #513, Series of 2016, having considered the same make the following report: Committee recommends that this paper be reported out favorably with the following amendment: That the paper be amended to read as follows:
Ordered: That the sum of $4,000,000 is appropriated to pay costs of street reconstruction, including the payment of all costs incidental and related thereto, for the following streets: High St., Adams St.; Bowers St., Earl St.; Pine St.; Savin St.; Desmond St.; Fellsmere Rd.; Kimball St.; Huntley St; Fergusin Rd.; North Milton St.; Erickson St.; Freemont St.; Kennard St; Franklin St; Judson St., and that to meet this appropriation, the Treasurer, with the approval of the Mayor, is authorized to borrow said amount under and pursuant to Chapter 44, Section 7(1) of the General Laws or pursuant to any other enabling authority, and to issue bonds or notes of the City therefor. Any premium received by the City upon the sale of any bonds or notes approved by this order, or pursuant to any other loan orders approved by the City prior to the date hereof, less any such premium applied to the payment of the costs of issuance of such bonds or notes, may be applied to the payment of costs approved by this vote, or pursuant to any other loan orders approved by the City prior to the date hereof, as the case may be, in accordance with Chapter 44, Section 20 of the General Laws, thereby reducing the amount authorized to be borrowed to pay such costs by a like amount.
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