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City Council sends $3 million stormwater borrowing to third reading
Summary
The Brockton City Council voted to pass to a third reading an order authorizing $3 million in borrowing for stormwater projects and to apply to the state Municipal Finance Oversight Board under Massachusetts law.
The Brockton City Council on May 27 voted to pass to a third reading an order authorizing the city to appropriate $3,000,000 for design and construction of stormwater improvements and to borrow the money under the Massachusetts General Laws.
The measure, read into the record by the City Clerk, authorizes the city treasurer, with the mayor’s approval, to borrow under Mass. Gen. Laws ch. 44, §7(1), or other enabling authority and to issue bonds or notes. The order also authorizes the treasurer to apply to the Commonwealth’s Municipal Finance Oversight Board to qualify bonds or notes under Mass. Gen. Laws ch. 44A and to execute required documents.
The council approved the measure by hand vote to advance it for a third reading; the item did not reach final adoption at the May 27 meeting.
Council materials showed the borrowing authorization and the Municipal Finance Oversight Board application were included in the mayor’s submission to the council. The clerk read the order into the record and the council president put the question on passage to a third reading.
The action advances the financing step; further council action will be required on a subsequent reading before bonds are issued and projects proceed.
