Title
Order: That One Million Forty-Eight Thousand Dollars ($1,048,000) is appropriated to pay costs of design and construction of sewer system improvements. Deadline for 45% full reimbursement opportunity for project is December 31, 2018.
Body
To meet this appropriation, the Treasurer, with approval of the Mayor is authorized to borrow said amount under M.G.L. c. 44, §§7 and 8 or any other enabling authority, all or any portion of this amount may be borrowed through the Massachusetts Water Resources Authority’s (MWRA) - Local Infiltration/Inflow Local Financial Assistant Program and in conjunction therewith, the Mayor and Treasurer are each authorized to enter into a loan agreement and/or security agreement with the MWRA relative to such loan, and the Mayor is authorized to contract for and expend any Federal, State or other aid available for the project, including any grant related to such project from the MWRA, and to take any other action necessary to carry out this project. Any premium received upon the sale of any bonds or notes approved by this vote, 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 in accordance with M.G.L. c. 44, §20, thereby reducing the amount authorized to be borrowed to pay such costs by a like amount.