HomeMy Public PortalAbout23-10-24 Order: Borrowing of Funds for Watertown High SchoolWatertown City Council
Administration Building
149 Main Street
Watertown, MA 02472
Phone: 617-972-6470
ORDER # 7a 2023 — O - 7,.
ORDER TO APPROVE THE BORROWING OF FUNDS
TO PAY COSTS OF BUILDING THE WATERTOWN
HIGH SCHOOL
ORDERED: That City hereby appropriates the amount of Two Hundred Sixteen Million
One Hundred Eighteen Thousand Seven Hundred Fifty Dollars ($216,118,750) for the
purpose of constructing a new Watertown High School located at 50 Columbia Street in
Watertown, Massachusetts, including the payment of all costs related to designing the
project, demolishing the existing building, equipping and furnishing the school, site
improvements, and all other costs incidental and related thereto (the "Project"), which
appropriation shall be in addition to all amounts previously appropriated to pay costs of
the Project, including the feasibility study and schematic design phase of the Project, and
which school facility shall have an anticipated useful life as an educational facility for the
instruction of school children of at least 50 years, and for which the City may be eligible for
a grant from the Massachusetts School Building Authority (the "MSBA"), said amount to
be expended under the direction of the Watertown School Building Committee; that to
meet this appropriation the Treasurer, with the approval of the City Manager, is authorized
to borrow said amount pursuant to G.L. c.44, §7(1) or G.L. c.70B, or pursuant to any other
enabling authority, and to issue bonds or notes of the City therefor; that the City
acknowledges that the MSBA's grant program is a non- entitlement, discretionary program
based on need, as determined by the MSBA, and any project costs the City incurs in
excess of any grant approved by and received from the MSBA shall be the sole
responsibility of the City; that any grant that the City may receive from the MSBA for the
Project shall not exceed the lesser of (1) forty-nine and thirty-three one hundredths
percent (49.33%) of eligible, approved project costs, as determined by the MSBA, or (2)
the total maximum grant amount determined by the MSBA; that the amount of the
borrowing authorized by this order shall be reduced by any grant amount set forth in and
received pursuant to the Project Funding Agreement that may be executed between the
City and the MSBA; and that the design/bid/build delivery method is hereby authorized to
carry out the Project pursuant to the provisions of G.L. c.149.
Council Member
I hereby certify that at a Meeting of the City Council for which a quorum was present, the
above Order was adopted by a vote of 3 for, 0 against, and 0 present on October 24,
2023
Brendan T. McCarthy, Council Clerk
Mark S. Sideris,
Council President
Caroline Bays,
Councilor At Large
Nicole Gardner,
District A Councilor
Mark S. Sideris, Council President
ELECTED OFFICIALS
Vincent J. Piccirilli, Jr.,
Vice President &
District C Councilor
John G. Gannon,
Councilor At Large
Lisa J. Feltner,
District B Councilor
John M. Airasian,
Councilor At Large
Anthony Palomba,
Councilor At Large
Emily Izzo,
District D Councilor