Professional Documents
Culture Documents
Language of The Order To Borrow Money That The Holyoke City Council Is Considering
Language of The Order To Borrow Money That The Holyoke City Council Is Considering
MOTION/VOTE/ORDER
That the City of Holyoke appropriate the amount of Thirteen Million Seven
Hundred Ninety Seven Thousand Five Hundred Eighty One Dollars ($13,797,581.00)
for the purpose of paying costs of Boiler and Window replacement at the Dr. Marcella R.
Kelly Elementary School at 216 West St Holyoke and Window Replacements at the Lt.
Clayre Sullivan Elementary School at 400 Jarvis Ave, Holyoke and the William G. Morgan
Elementary School at 596 South Bridge St., Holyoke including the payment of all costs
incidental or related thereto (the “Project”), which proposed repair project would materially
extend the useful life of the school and preserve an asset that otherwise is capable of
supporting the required educational program, and for which the City of Holyoke has applied
for a grant from the Massachusetts School Building Authority (“MSBA”), said amount to be
expended under the direction of Holyoke Public Schools. To meet this appropriation the City
of Holyoke, is authorized to borrow said amount under M.G.L. Chapter 44, or pursuant to
any other enabling authority. The City of Holyoke acknowledges that the MSBA’s grant
program is a non-entitlement, discretionary program based on need, as determined by the
MSBA, and if the MSBA’s Board of Directors votes to invite the City to collaborate with the
MSBA on this proposed repair project, any project costs the City of Holyoke incurs in excess
of any grant that may be approved by and received from the MSBA shall be the sole
responsibility of the City of Holyoke; and that, if invited to collaborate with the MSBA on
the proposed repair project, the amount of borrowing authorized pursuant to this vote
shall be reduced by any grant amount set forth in the Project Funding Agreement that
may be executed between the City of Holyoke and the MSBA.
4/2011