Quincy City Council authorized to borrow $11,536,000 on Sep 19, 2017

APPROVED ORDER on September 19, 2017
7 – 0 (all voted in favor)

ORDER NO. 2017-132
ORDERED: September 5, 2017

BE IT ORDAINED that the City of Quincy appropriate the sum of $11,536,000.00 for the purpose of making certain capital improvements to public buildings and lands and computer software upgrades.

To meet this appropriation the Treasurer-Collector, with the approval of the Mayor, is authorized to borrow $11,536,000.00 under the provisions of G.L. c. 44 s.7(1) 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 44A of 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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