Holyoke City Council Finance Committee Text Size
Event takes place on January 14, 2019 at 6:30 PM
City Hall, Council Chambers, 536 Dwight St. Holyoke, MA 01040
*****-***** FREE CASH $403,804.41
12201-51103 CAPTAINS $36,079.27
12201-51104 LIEUTENANTS 66,180.22
12201-51105 FIREFIGHTERS 280,059.87
12201-51107 SUPERVISOR FIRE ALARM 3,709.53
12201-51109 ASST SUPERVISOR FIRE ALARM 3,312.17
12201-51110 FIRE ALARM OPERATOR 14,463.35
- Ordered, that the amount of ONE HUNDRED TWENTY SEVEN AND 00/100 Dollars ($127.00) be authorized from the Mayor’ Office/Auditor Department’s CITY LIABILITY & DAMAGE INSURANCE (19402-57400) appropriation in fiscal year 2019 for services rendered in fiscal year 2018 which were unencumbered at the 2018 fiscal year end.
- Memorandum of Agreement between the City of Holyoke and IAFF Local 1693 (“Union”).
- Ordered that the sum of $8,906,000 is appropriated to pay the costs of the Jackson Street Area Sewer Separation Project and the payment of all costs incidental and related hereto, and that to meet this appropriation, the Treasurer, with the approval of the Mayor, is authorized to borrow said amount under and pursuant to Chapter 44, Section 7(1) of the General Laws, or pursuant to any other enabling authority, and to issue bonds or notes of the City therefore; that the Mayor is authorized to contract for and expend any state aid available for the project; and that the Mayor is authorized to take any other action necessary to carry out this project.
Further Ordered: 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.
Further Ordered: That the Treasurer is authorized to file an application to qualify under Chapter 44A of the General Laws any and all of the bonds or notes authorized to be issued pursuant to this Order, and to provide such information and execute such documents as may be required for such purposes.
Further Ordered: That in order to reduce interest costs, the City Treasurer, with the approval of the Mayor, is authorized to refinance any bonds issued pursuant to this Order and in connection therewith, to issue refunding bonds in accordance with Chapter 44, Section 21A of the General Laws.
Further Ordered: That there shall be no change in the purpose of this bond authorization without prior vote of approval by the Holyoke City Council.
- Ordered, that there be and is hereby appropriated by transfer in the fiscal year 2019, nineteen thousand five hundred and 00/100 Dollars ($19,500.00) as follows:
14261-51106 DPW Police Mechanic $19,500.00
12102-52410 Police M/V Repairs $19,500.00
- That the following amounts be and are hereby appropriated as an amendment to the budget for Fiscal Year 2019 (July 1, 2018 through June 30, 2019) to be expended by the Departments for the purposes specified.
$ 3,807,014 Retired Teachers Health Insurance
$ 9,062 Air Pollution
$ 97,640 RMV Non-Renewal Surcharge
$ 857,246 Regional Transit
$ 72,917 Special Education
$ 2,596,320 School Choice Sending Tuition
$12,516,204 Charter School Sending Tuition
- Non-Financial Order:that the following actions take place to strengthen the financial condition of our City as per recommendations by our financial advisor Cinder McNerney:
-That a debt management stabilization fund be established.
-That a financial plan to improve the bond rating from A+ to AA be established
-That a minimum of 10% of the budget be maintained in the stabilization fund with a goal of increasing the fund to 15% of the budget prior to funds being used from the fund for other than emergency purposes.
Brenna Murphy McGee
The listing of matter are those reasonably anticipated by the chair which may be discussed at the meeting. Not all items listed may in fact be discussed and other items may also be brought up for discussion to the extent permitted by law.
Posted on January 9, 2019 by Irma Lopez