Appropriation – $3,624,000 for Purchase and Installation of LED Street Lighting – Moved to Finance Committee


Video recorded by the Quincy Taxpayers Association
Meeting Date: March 6, 2017 at 7:30 pm
Location: Quincy City Hall, Quincy Massachusetts

Council Order 2017-035 – Appropriation – $3,624,000 for Purchase and Installation of LED Street Lighting – Moved to Finance Committee on Mar 6, 2017

INTRODUCED BY: MAYOR THOMAS P. KOCH
CITY OF QUINCY IN COUNCIL
ORDER NO. 2017-35
ORDERED: March 06, 2017

BE IT ORDAINED that the City of Quincy appropriate the sum of $3,624,000 for the purpose of purchasing and installing LED street lighting and associated costs thereunto through the Traffic, Parking, Alarm, and Lighting Department ([PAL).

To meet this appropriation the Treasurer-Collector, with the approval of the Mayor, is authorized to borrow $3,624,000 under G.L. c. 44B s.7 (6) or any other enabling authority; and that the Treasurer-Collector is authorized to file an application with the Municipal Finance Oversight Board to qualify under Chapter 44Aof the General Laws any or all of the bonds and to provide such information and execute such document as the Board may require for these purposes; and that any premium received by the City 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 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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