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Council approves revised $1.5 million bond authorization; initial authorization sent back to auditor
Summary
The council passed a revised $1.5 million bond authorization for municipal facilities, vehicles and related work (item 12) and directed that a duplicate/earlier version (item 11) be returned to the auditor for correction; the mayor and treasurer were authorized to borrow under MGL chapter 44 as necessary.
The Holyoke City Council addressed a pair of related bond-authority orders on June 30. Councilors determined the initial filing (item 11) should be returned to the auditor for correction because item 12 included updated language and a project list; the council then passed item 12, the revised $1.5 million authorization.
Per the item text read into the record, the revised order (item 12) appropriates $1,500,000 to finance demolition, remodeling, reconstruction, engineering, construction, equipping, or reequipping of various municipal facilities and to purchase municipal vehicles, including payment of related costs. The treasurer, with approval of the mayor, was authorized to borrow under and pursuant to MGL chapter 44, section 7 (or any other enabling authority) and to qualify bonds or notes under chapter 44A.
Councilor Jardine (speaking in committee report) and other councilors explained the authorization is designed as a temporary measure in case certified free cash is not available quickly. Councilors described potential uses that included DPW vehicles, police cruisers, fire station roof repairs, and funds to support the new Veterans Home communications tower. Several councilors said the city hopes to use free cash once certified so borrowed funds would not be needed.
Item 11 was identified in committee as duplicative and containing older language; the council voted to return item 11 to the auditor so the auditor could correct it. Item 12 passed on recorded roll-call votes with unanimous support.
Ending Treasurer and mayor were authorized to pursue borrowing if required and to file bond qualification materials under chapter 44A; the council asked for follow-up reporting once borrowing actions or free-cash substitutions occur.
