Requesting authorization to borrow $2,068,800 in a bond, and to appropriate the same amount to participate in the Drinking Water State Revolving Fund for Lead Service Replacement program and rescind Docket #214477, authorization to borrow $1,477,738 in a bond for participation in the FY23 MWRA Lead Line Replacement Program.

To the Honorable City Council: The Mayor respectfully requests that this Council appropriate $2,068,800 in order to participate in the Drinking Water State Revolving Fund (SRF) for the lead service replacement program, and rescind Council Order #214477 authorization to borrow $1,477,738 in a bond for participation in the FY23 MWRA Lead Line Replacement Program. The Department of Infrastructure and Asset Management, Engineering Division has determined the SRF funding opportunity to be more advantageous for the City than the MWRA Lead Line Replacement Program funding. IAM-Engineering intends to utilize SRF funding for this project and no longer requires the MWRA authorization to borrow. To meet this appropriation, the Treasurer will be authorized to borrow $2,068,800 as provided by MGL Chapter 44. Debt service will be paid from the Water Enterprise. Appropriate staff will be available to answer any questions about this bond you may have. Thank you for your consideration of this matter. Respectfully, Katjana Ballantyne, Mayor