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Committee Approves Water System Supplement, Library Bond Sale and $75,000 Preservation Release
Summary
The committee approved a supplemental appropriation for the Water System Improvement Program and signaled future bond-driven water rate increases, authorized a library bond sale up to $31.065 million, and released $75,000 for Market/Octavia preservation work funded in part by the Historic Preservation Fund Committee.
The Budget & Finance Committee approved several capital and program matters on March 27, forwarding a supplemental appropriation for the Water System Improvement Program, authorizing the sale of library general obligation bonds and releasing reserved funds for a Market/Octavia preservation survey.
Julie Labonte, director of the Water System Improvement Program, told the committee she was seeking a supplemental appropriation totaling about $262 million to fund regional and local projects through calendar year 2008, including funds for delivery work and encumbrance of construction contracts. "Approximately 73% of this appropriation will be allocated…
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