Document Salem_doc_81ecf5dc97

CITY OF SALEM MASSACHUSETTS FY 2021 Proposed Five Year Capital Plan 2021 – 2025 Mayor Kimberley L. Driscoll Laurie A. Giardella, Finance Director ---PAGE BREAK--- Capital Improvement Program Mayor’s Message Goals of the Capital Improvement Program (CIP) The City of Salem relies on a capital improvement program and capital budget to ensure that capital needs are being addressed in a responsible manner based on priority and thoughtful planning. A capital improvement program is a critical component of the capital improvement budget and the overall budget strategy. By formalizing a capital plan and capital budget, the City of Salem has the ability and knowledge to address deferred maintenance issues that have been postponed and ignored in prior years, as well as plan for the future needs of the City. When considering funding items in the Capital Improvement Program, the City strategically pursues available options from grants at the state and federal levels, and also utilizes monies available from water and sewer retained earnings to avoid the issuance of long term debt for certain projects that can be covered in full by such retained earnings. From a financing perspective, priority is given to projects with grant revenues or other matching funds to offset the costs of borrowing. Addressing capital needs when appropriate will assist the City in reaching many of its longer-term goals such as reducing fuel consumption, decreasing deferred maintenance costs, reducing heating and electricity expenses, and creating efficiencies by means of technological advances and automation. As important, a sound capital improvement program will continue to ensure that our facilities, equipment, vehicles are safe, energy efficient and operable at all times to deliver top-notch services to the City’s residents. Goals of the Mayor – FY2021 Capital Improvement Program (CIP) The Mayor’s main goals are to improve the overall planning and budget process for addressing capital needs and to ensure accountability as it relates to implementation of capital work projects. Our early efforts focused on overhauling and renovating neglected parks, playgrounds and recreational spaces, as well as a full assessment of roadway, sidewalk and utility infrastructure conditions which enabled us to begin implementation of a comprehensive strategy to address long overdue maintenance needs in these areas. Priority is given to projects that can use grant funds to help offset overall costs of projects, or in some cases, fund an entire project. Otherwise, projects are ranked based upon priority as well as the ability to stabilize long term operational costs. 1 ---PAGE BREAK--- FY2021 Capital Improvement Program (CIP) – highlights of proposed CIP and FY2021 Capital Budget For FY2021, the Mayor and Finance Director have created a capital plan that is fiscally responsible and transparent. The plan includes a focus on asset preservation, replacement of apparatus and equipment, and continued improvements to the City’s historic infrastructure. The City of Salem is scheduled to receive an estimated $870,000 from the Commonwealth of Mass for road repairs from Chapter 90 Grant funding. In addition to the authorized Chapter 90 funding, the City will be funding an additional $800,000 for roadway improvements and sidewalks beyond the state aid appropriation. As well, as funding other specific roadway projects. The FY2021 capital improvement plan reflects a continued commitment to addressing aging infrastructure and improving the appearance of our City overall. Investments in playground upgrades, traffic calming, roadway improvement, technology initiatives, also including computer hardware, various departmental vehicles, equipment, as well as building repairs and maintenance. 2 ---PAGE BREAK--- Capital Improvement Program Overview A capital improvement program (CIP) is a blueprint for planning a community’s capital expenditures. A CIP is typically a multi-year plan identifying capital projects and equipment to be funded during the planning period. A CIP is composed of two parts, a capital program and a capital budget. The capital program is a plan for capital expenditures that extends out past the capital budget. The capital budget is the upcoming year’s spending plan for capital items. Developing a CIP that will ensure sound financial and capital planning requires effective leadership and the involvement and cooperation of all municipal departments. A properly developed CIP will help the City in many ways such as enhancing a community’s credit rating, stabilizing debt service payments, and identifying the most economical means of financing capital projects. It will also help increase opportunities to obtain federal and state aid and help avoid duplication by overlapping governmental units. The City has several ways to finance its CIP, including state and federal grants, appropriations from the City’s Capital Outlay account, capital leases, and long-term borrowing. Depending on the cost and the useful life, the Finance Director will make recommendations to the Mayor for funding the City’s capital needs. Capital leases are often three years or less and are built into the operating budget. Capital leases are often used for items such as school buses, office equipment, and other items that may not last five years in useful life. The City’s Capital Outlay account typically funds items under $25,000 but can be used to fund items over $25,000 if it is deemed prudent. Funding capital improvements through the Capital Outlay account is beneficial because there is no borrowing or interest costs; you simply pay for the item in the year that it is purchased. Many of the City’s capital items over $25,000 require long-term borrowing as authorized by a 2/3rd vote of the City Council upon recommendation of the Mayor. Long term bonding helps spread the costs of expensive capital improvements over their full useful life (per MGL Chapter 44/7 and Chapter 44/8). The CIP dovetails into the City’s five-year financial forecast for planning purposes. The CIP has to be worked into the operational part of the budget so that both the operational and capital needs of the municipal departments are met on a year-to-year basis. Oftentimes the CIP suffers as fixed costs such as health insurance and retirement assessments continue to rise which places further pressure on the operational budget. However, it is incumbent upon the Mayor and Finance Director to ensure that both the operating budget and CIP are reasonable and attainable to ensure fiscal stability within the limitations of Proposition 2 ½. What is a Capital Asset? Capital items are tangible assets or projects with a value of $25,000 or more and must have a depreciable life of five or more years. Examples of Capital Assets are DPW equipment, Buildings (purchase or major renovations), water and sewer infrastructure. Items that are NOT capital assets include services, painting rooms or buildings, books, field maintenance, routine building maintenance. 3 ---PAGE BREAK--- This Capital Plan has multiple funding sources, including grant funds, capital lease, one-time appropriations, Community Preservation Act funds, and bonding. The list proposed is a scaled down list from departmental requests, with priority given to those projects that are supplemented by grant dollars or any other revenue sources that will keep net general fund expenditures to a minimum. TOTAL PROPOSED CAPITAL PLAN FOR THE CITY OF SALEM: $ 10,617,551 TOTAL PROPOSED FOR BORROWING AND CAPITAL LEASES: $ 9,638,451 FY20 CIP – Funded from GRANTS AND OTHER FINANCIAL SOURCES Replace Truck #9 : 50% grant $ 109,100 TOTAL GRANTS and OFS: $ 109,100 FY21 CIP –CH. 90: Engineering Roads, Sidewalks & Crosswalks 870,000 TOTAL CH.90: $ 870,000 FY21 CIP-Funded from anticipated BOND AUTHORIZATION Building Repairs and ADA Improvements 30,000 Electrical Riley Plaza LED Lighting 76,000 Electrical SMART Signalization Expansion Phase 2 100,000 Electrical ADA walk signal buttons 10,000 Electrical 2019 FORD Escape 24,000 Engineering Common Bandstand Restoration 60,000 Engineering McGrath Park Soils Remediation 80,000 Engineering Washington & Bridge St. Intersection Mass Works 100,000 Engineering DPS Building Project 185,000 Engineering Boston Street Complete Upgrade 285,000 Engineering Derby Street Complete Street Phase 2/3 340,000 Engineering Bridge Street Complete Street Flint-Boston 500,000 Engineering Forest River Pool & Associated Facilities 1,000,000 Engineering Citywide Seawall Improvements 100,000 FY 2021 CIP General Fund Executive Summary FY21 CIP – Funding Sources 4 ---PAGE BREAK--- FY 2021 CIP General Fund Executive Summary Engineering Citywide Roads, Sidewalks, and Crosswalks (Non-Chapter 90) 800,000 Fire Fire Station 2 & 4 Facade Repair 32,000 Fire Fire Station - ADA - #1 Paving, Ramp, Drainage, R&M 125,000 Fire Station 1 Antenna Project 346,000 Harbor Master Enhanced Communication DHS 25,500 IT Digitization 150,000 IT IT Life cycle Management (School) 171,449 IT IT Lifecycle Management (City) 120,405 Library Repairs to roof emergency stairway 28,750 Library ADA Upgrades 10,000 Park & Rec Court Renovations 125,000 Park & Rec Forest River Restrooms Interior Renovation 175,000 Park & Rec ADA Park Improvements 40,000 Park & Rec City Wide Playground Equipment/Park Upgrades 75,000 Park & Rec Tractor/Loader/Backhoe 70,235 Park & Rec Apron Tee Greens Mower 46,000 Park & Rec Park+ Rec Facilities Truck 30,000 Parking Norman Summer Chestnut Roundabout Phase 4 241,000 Parking Traffic Calming Improvements 50,000 Parking Garage Improvements - Annual Maintenance & ADA Compliance 100,000 Parking Bicycle Infrastructure Design, Implementation & Maintenance 200,000 Planning OTH and Artists' Row Repairs, Minor Renovations, ADA Compliance, Studies 30,000 Planning Bike Parking Infrastructure 10,000 Planning Dickson Memorial Chapel Study and Door Repair 30,500 Planning Artists Row Bathroom Reno Design, Construction & Design 130,000 Planning Mansell Field Restoration 150,000 Planning Palmer Cove Park Renovation Phase I 270,000 Planning Willows Restoration & Park Improvements (All Future Phases) 1,000,000 Police Salem Police Headquarters General Repair & ADA Projects 30,000 Police Auditorium Seating and Flooring Replacement with ADA Compliance 33,000 Police Vehicle Replacement Plan - Patrol and Non Patrol 250,000 Police Cameras - Community/Police 45,000 5 ---PAGE BREAK--- FY 2021 CIP General Fund Executive Summary Public Services Annual Small Repairs, Studies and ADA Improvements - DPS & Greenlawn 25,000 Public Services replace 16 year old truck #9 with 50% grant funded new vehicle 109,100 Public Services International 6 Wheel Dump Truck (Replaces #10) 100,000 Public Services ford f350 pickup 43,000 Public Services f550 dump 23,012 School ADA Upgrades / Studies / Repairs - Schools 265,000 School New 29 Passenger Buses 68,500 School School Capital Repairs (Roof Pros, Signage, Playground, Other) 330,000 School School Building and Strategic Master Plan 125,000 School Salem High Bathroom renovations 200,000 School District Camera and Access Control 250,000 School Collins office remodel 270,000 TOTAL BOND AUTHORIZATION: $ 9,638,451 GRAND TOTAL GENERAL FUND CAPITAL REQUESTS: $ 10,617,551 6 ---PAGE BREAK--- Approved FY21 Funding Dept. Request CAPITAL REQUEST FY20 Source FY2021 FY2022 FY2023 FY2024 FY2025 Building Repairs and ADA Improvements Bonding 30,000 $ Subtotal: Building - 30,000 - - - - City Clerk Vault Storage for Historic Preservation 51,125 Fund 2000 Subtotal: City Clerk 51,125 - - - - - Electrical ADA walk signal buttons Bonding 10,000 Riley Plaza LED Lighting Bonding 76,000 Smart Signalization 225,000 Bonding 100,000 2019 FORD Escape Bonding 24,000 2019 Ford F350 Pickup Truck 8' Bed 2 Wheel Drive 31,000 Subtotal: Electrical 256,000 210,000 - - - - Engineering - Roads, Sidewalks, & Crosswalks Boston Street Corridor Roadway improv(TIP prog) 200,000 Boston Street Complete Upgrade Bonding 285,000 Bridge Street (Massworks) Roadway improvements 150,000 Bridge Street Complete Street Flint-Boston Bonding 500,000 Citywide Seawall improvements Bonding 100,000 Common Bandstand Restoration 43,400 Bonding 60,000 Derby St Complete Streets 842,400 Bonding 340,000 DPS relocation study / evaluation Bonding 185,000 Forest River Park and Pool Design/Improvements 200,000 Forest River Pool & Associated Facilities Bonding 1,000,000 McGrath Park Soils Remediation Bonding 80,000 Washington & Bridge St. Intersection Mass Works Bonding 100,000 Willows Park Restoration 210,000 Szetela Lance Shared Use Path 303,000 Roads, Sidewalks & Crosswalks (Non Chapter 90 eligible) 1,540,000 Bonding 800,000 Roads, Sidewalks & Crosswalks (Chapter 90) 870,000 Ch. 90 870,000 870,000 Subtotal: Eng. - Roads, Sidewalks, Crosswalks 4,358,800 4,320,000 870,000 - - - Fire ADA - Fire Station - #1 Paving, Ramp, Drainage, R&M Bonding 125,000 City of Salem Capital Plan - General Fund Fiscal Year 2021-2025 Requested 7 ---PAGE BREAK--- Approved FY21 Funding Dept. Request CAPITAL REQUEST FY20 Source FY2021 FY2022 FY2023 FY2024 FY2025 Requested Facade Repair - Fire Station 2 & 4 Bonding 32,000 General Building Maintenance/Upgrades 30,000 Scott Self Contained Breathing Apparatus & Accessories 24,940 Station 1 Antenna Project Bonding 346,000 Subtotal: Fire 54,940 503,000 - - - - Harbormaster Enhanced Communication DHS Bonding 25,500 Subtotal: Harbormaster - 25,500 - - - - Information Technology Annual Equipment- Life-Cycle Mgmt Program (Schools) 171,506 Bonding 171,449 200,000 200,000 Annual Equipment-Life-Cycle Mgmt Program (City) 120,995 Bonding 120,405 120,000 120,000 Ongoing Digitization of record, City wide 75,000 Bonding 150,000 125,000 125,000 View Permit Upgrade 74,680 Subtotal: Information Technology 442,181 441,854 445,000 445,000 - - Library ADA Upgrades Bonding 10,000 Children's Room redesign furniture and fixtures 20,000 Envelope & leak detection 10,000 Repairs to roof emergency stairway Bonding 28,750 Theft detection system replacement 30,000 Subtotal: Library 60,000 38,750 - - - - Parks, Recreation & Community Services ADA Park Improvements Bonding 40,000 Apron Tee Greens Mower Bonding 46,000 Bertram Field Phase 2 4,956,357 Forest River Restrooms Interior Renovation Bonding 175,000 City Wide Playground Equipment/Park Upgrades 75,000 Bonding 75,000 Court Renovations 75,000 Bonding 125,000 Park & Rec Facilities Truck Bonding 30,000 Tractor/Loader/Backhoe Bonding 70,235 Equipment - Golf Course 55,723 40,000 Subtotal: Recreation 5,162,080 561,235 40,000 - - - Parking and Traffic Department Traffic Calming Improvements 76,500 Bonding 50,000 Bicycle Infrastructure Upgrades (Annual) 25,500 - - - Bicycle Infrastructure Design, Implementation & Maintenance Bonding 200,000 Museum Place Garage Renovation Phase 1 Design 200,000 Garage Improvements - Annual Maint & ADA Compliance 100,000 Bonding 100,000 Norman Summer Chestnut Roundabout Phase 4 Bonding 241,000 8 ---PAGE BREAK--- Approved FY21 Funding Dept. Request CAPITAL REQUEST FY20 Source FY2021 FY2022 FY2023 FY2024 FY2025 Requested Parking Kiosk Purchase/Installation 50,000 Signs/Safety/Tactical 25,500 Subtotal: Parking and Traffic 477,500 591,000 - - - - Planning Artists Row Bathroom Reno, Design & Construction Bonding 130,000 OTH and Artists' Row Repairs, Minor Renovations, ADA Compliance, Studies Bonding 30,000 Bike Parking Infrastructure Bonding 10,000 Bike Plan Implementation 25,000 30,000 30,000 30,000 Dickson Memorial Chapel Study and Door Repair 25,000 Bonding 30,500 Gallows Hill Park Renovation 227,259 405,667 Mansell Field Restoration Bonding 150,000 Municipal Harbor Plan 55,500 OTH Capital and Business Needs Study 25,000 Palmer Cove Park Renovation 50,000 Bonding 270,000 1,180,000 Purchase of Nissan Leaf at End of Lease 9,346 Underpass Public Art Installation 25,000 Willows Restoration & Park Improvements (All Future Phases) Bonding 1,000,000 Subtotal: Planning 442,105 1,620,500 1,615,667 30,000 30,000 - POLICE Auditorium Seating and Flooring Replacement with ADA Compliance Bonding 33,000 Boiler and Heaters 157,595 Cameras - Community/Police 75,000 Bonding 45,000 Police & Fire Radio Communication System 50,000 Salem Police Headquarters General Repair & ADA Projects Bonding 30,000 Vehicle Replacement (4 Marked Cruisers) 196,000 Bonding 250,000 Subtotal: Police 478,595 358,000 - - - - Public Services ADA Improvements & Repairs - DPS & Greenlawn Bonding 25,000 replace 16 year old truck #9 with 50% grant funded new vehicle Bonding 109,100 replace 16 year old truck #9 with 50% grant funded new vehicle Grants 109,100 International 6 Wheel Dump Truck (Replaces #10) Bonding 100,000 Ball Field Maint. Mach. 31,000 Cat. Backhoe 100,000 F550 Dump 67,000 Bonding 23,012 F350 Ford Pickup Bonding 43,000 Winter Island Lighthouse Concrete Restoration, Painting 30,000 Subtotal: Public Services 228,000 409,212 - - - - Schools 9 ---PAGE BREAK--- Approved FY21 Funding Dept. Request CAPITAL REQUEST FY20 Source FY2021 FY2022 FY2023 FY2024 FY2025 Requested Access/ADA/Archit Studies & Small Repairs to Capital Assets 160,000 Bonding 265,000 Building and Strategic Master Plan Bonding 125,000 Bathroom renovations - SHS Bonding 200,000 Capital Repairs (Roof Projs, Signage, Playground, Other) Bonding 330,000 District Camera and Access Control Bonding 250,000 Library Remodel - SHS 20,000 Life Safety Studies & Small Repairs to Capital Assets 90,000 MEP/Elevator/Utility Studies & Small Repairs to Capital Assets 180,000 Office Remodel - Collins Bonding 270,000 Roof/Envelope Studies Small Repairs to Capital Assets 25,000 Saltonstall Water Heaters 84,000 Chiller & Assoc. HVAC System 605,000 Site/Field Studies & Small Repairs to Capital Assets 30,000 Bus-29 Passenger Bonding 68,500 30 Pass. Bus w/ 2 WC 95,000 77 Passenger Bus 97,000 Subtotal: Schools 1,386,000 1,508,500 - - - - Bonding 9,638,451 Capital Leases - Ch. 90 870,000 CPA Approved - Grants 109,100 Fund 2000 - R/Reserve - Bond Premium - Total CIP 10,617,551 Total to be Bonded 9,638,451 10 ---PAGE BREAK--- The Enterprise Fund's Capital Plan has multiple funding sources, including retained earnings, SESD funds and bonding. The list proposed has been reviewed and approved by the City's Engineer. Total proposed Capital Plan for the City of Salem's Enterprise Funds for FY21 is: 4,758,033 $ Total proposed for Borrowing & Capital Leases for the WS Enterprise Funds for FY21 is: 4,758,033 $ FY21 Enterprise Fund CIP-Funded from bonding Water Vactor truck #18 replacement 433,033 $ Water Forest River New Water Line 100,000 Water City Wide System Flushing, Valve Maint., Leak Detection and GIS Admin. 300,000 Water Distribution Main System Initiatives (plan, design & construct) 300,000 Water Transmission main system initiatives (plan, design & construct) 500,000 Water Highland Ave 16 inch Water Main 200,000 Sewer Willow Ave. Sewer Line Replacement 200,000 Sewer Forest River Pool Sewer Line and Stormwater Systems 250,000 Sewer Derby St at Congress - Drainage system repairs 575,000 Sewer SSES report implementation (eliminate I/I sources city wide ) 600,000 Sewer Rosie's Pond Flood Protection & Drainage System Improvements 1,000,000 Sewer Citywide Flushing, Pipe Replacements, Sewer Extensions, GIS 300,000 TOTAL BONDING: 4,758,033 $ GRAND TOTAL ENTERPRISE FUND CAPITAL REQUESTS: 4,758,033 $ FY 2021 CIP Enterprise Funds Executive Summary FY21 Enterprise Fund CIP – Funding Sources 11 ---PAGE BREAK--- Funding Cost Impact Water Vactor truck #18 replacement Bonding 433,033 $ Replace aging equipment / provides ability to maintain infrastructure efficiency. Water Forest River New Water Line Bonding 100,000 $ Repairing structural defects and addressing needed repairs to water infrastructure. Water Citywide Flushing, valve exercise, leak detection, GIS Bonding 300,000 Preventative maintenance/reduction in emergency repairs Water Water Distribution Main System Improvements Bonding 300,000 Repairing structural defects and addressing needed repairs to water infrastructure. Water Water Transmission Main System Improvements Bonding 500,000 Repairing structural defects and addressing needed repairs to water infrastructure. Water Highland Ave 16 inch Water Main Bonding 200,000 Repairing structural defects and addressing needed repairs to water infrastructure. Sewer Willow Ave. Sewer Line Replacement Bonding 200,000 Repairing structural defects and addressing needed repairs to sewer infrastructure. Sewer Forest River Pool Sewer Line and Stormwater Systems Bonding 250,000 Repairing structural defects and addressing needed repairs to sewer infrastructure. Sewer Derby/Congress St. Drainage System Repairs Bonding 575,000 Repairing structural defects and addressing needed repairs to sewer infrastructure. Sewer SSES Report Implementation (eliminate I/I sources citywide) Bonding 600,000 Repair structural defects to avoid maintenance issues. IMPACT OF WATER & SEWER CAPITAL IMPROVEMENT PROJECTS ON OPERATING BUDGET Description 12 ---PAGE BREAK--- Funding Cost Impact IMPACT OF WATER & SEWER CAPITAL IMPROVEMENT PROJECTS ON OPERATING BUDGET Description Sewer Rosie's Pond Flood Protection & Drainage System Improvements Bonding 1,000,000 Repairing structural defects and addressing needed repairs to sewer infrastructure. Sewer Citywide Flushing, Pipe Replacements, Sewer Extensions, GIS Bonding 300,000 Repairing structural defects and addressing needed repairs to sewer infrastructure. Total All Water & Sewer Enterprise Capital Projects 4,758,033 $ 13 ---PAGE BREAK--- Proposed CAPITAL REQUEST Approved FY20 FY21 Funding Source FY2021 FY2022 FY2023 FY2024 FY2025 Water Enterprise-Engineering Distribution System Bertram Field Phase 2 100,000 $ City Wide-Distribution Main System Initiatives (plan, design & construct) 100,000 Bonding 300,000 1,145,000 1,145,000 1,145,000 1,145,000 City Wide System Flushing, Valve Maint., Leak Detection and GIS Admin. 100,000 Bonding 300,000 400,000 400,000 400,000 400,000 Forest River New Water Line Bonding 100,000 Highland Ave 16 inch water main and valves (replace 1930 vintage system) Bonding 200,000 2,500,000 Transmission main system initiatives (plan, design & construct) 100,000 Bonding 500,000 2,500,000 2,500,000 2,500,000 2,500,000 Vactor truck #18 replacement Bonding 433,033 Subtotal: Water Enterprise 400,000 $ 1,833,033 $ 6,545,000 $ 4,045,000 $ 4,045,000 $ 4,045,000 $ Sewer Enterprise-Engineering Sewer - City Wide System Flushing, Valve Maint., Leak Detection and GIS Admin. 200,000 Bonding 300,000 400,000 400,000 400,000 400,000 Pre-Paving Sewer/ drain inspections (prior to annual paving) 50,000 50,000 50,000 50,000 50,000 Spoil Material Disposal at dps (testing and disposal) 50,000 50,000 50,000 50,000 50,000 SSES report implementation (eliminate I/I sources city wide ) 600,000 Bonding 600,000 800,000 800,000 800,000 800,000 Derby/Congress St. Drainage System Repairs Bonding 575,000 289 Derby St at Congress-Drainage system repairs(Waterfront Hotel Commitment) 250,000 Willow Ave. Sewer Line Replacement Bonding 200,000 Bertram Field Phase 2 250,000 Rosie's Pond Flood Protection & Drainage System Improvements Bonding 1,000,000 Forest River Pool Sewer Line and Stormwater Systems Bonding 250,000 International Dump Truck 80,000 Subtotal: Sewer Enterprise 1,400,000 2,925,000 2,050,000 2,050,000 2,050,000 2,050,000 Total: Enterprise Fund 1,800,000 4,758,033 8,595,000 6,095,000 6,095,000 6,095,000 Bonding 4,758,033 Bond Premium - Grants - R/E - Capital Lease - SESD - City of Salem Capital Plan - Water and Sewer Enterprise Fund Projected FY2021 to 2025 14 ---PAGE BREAK--- City of Salem, Massachusetts $5,775,000 General Obligation Bonds of 1990 Dated: August 15, 1990 Aggregate Debt Service DATE Issue : Purpose PRINCIPAL INTEREST TOTAL P+I 07/15/2020 December 14 2006 DW-05-12 : SINGLE PURPOSE 124,367.00 9,251.45 133,618.45 Subtotal $124,367.00 $9,251.45 $133,618.45 09/01/2020 October 15 2010 (SQ) : Water Systems Improvement 100,000.00 21,200.00 121,200.00 October 15 2010 (SQ) : Water Meters 200,000.00 24,000.00 224,000.00 October 15 2010 (SQ) : Water Main 140,000.00 24,800.00 164,800.00 October 15 2010 (SQ) : Sewer Pump Station 10,000.00 1,800.00 11,800.00 October 15 2010 (SQ) : South River Basin Upgrade 80,000.00 14,600.00 94,600.00 October 15 2010 (SQ) : Golf Course Dept. Equip 10,000.00 200.00 10,200.00 October 15 2010 (SQ) : Dump Truck 2,500.00 50.00 2,550.00 October 15 2010 (SQ) : DPW Equipment 2,500.00 50.00 2,550.00 October 15 2010 (SQ) : Engineering Infrastructure 15,000.00 300.00 15,300.00 October 15 2010 (SQ) : Engineering Seawalls 5,000.00 100.00 5,100.00 October 15 2010 (SQ) : Fire Pumper Truck 25,000.00 3,000.00 28,000.00 October 15 2010 (SQ) : Parking Equipment 5,000.00 100.00 5,100.00 October 15 2010 (SQ) : Witch House 5,000.00 100.00 5,100.00 October 15 2010 (SQ) : Departmental Equipment 5,000.00 100.00 5,100.00 October 15 2010 (SQ) : Forest River Pool 15,000.00 300.00 15,300.00 October 15 2010 (SQ) : Forest River Park 5,000.00 100.00 5,100.00 October 15 2010 (SQ) : Willow Public Bathroom 10,000.00 200.00 10,200.00 October 15 2010 (SQ) : School Fire Alarm Systems 10,000.00 200.00 10,200.00 October 15 2010 (SQ) : School Buses 10,000.00 200.00 10,200.00 October 15 2010 (SQ) : School Infrastructure 5,000.00 600.00 5,600.00 October 15 2010 (SQ) : Fire SCBA Compressor 5,000.00 100.00 5,100.00 October 15 2010 (SQ) : Public Service Equip. & Vehicles 25,000.00 500.00 25,500.00 October 15 2010 (SQ) : Roads, Sidewalks & Crosswalks 105,000.00 10,500.00 115,500.00 October 15 2010 (SQ) : Playground Equipment 5,000.00 100.00 5,100.00 October 15 2010 (SQ) : Furlong Park Remodeling 20,000.00 2,000.00 22,000.00 October 15 2010 (SQ) : Roads, Sidewalks & Crosswalks 2 10,000.00 1,200.00 11,200.00 October 15 2010 (SQ) : Canal St. Improvement Design 30,000.00 3,600.00 33,600.00 October 15 2010 (SQ) : Storage Tanks 100,000.00 2,000.00 102,000.00 October 15 2010 (SQ) : School Ballfield Remodeling 5,000.00 500.00 5,500.00 September 27 2012 : Water System Improvements (OSQ) 65,000.00 15,950.00 80,950.00 September 27 2012 : Sewer Pump Station Upgrade (ISQ) 10,000.00 2,218.75 12,218.75 September 27 2012 : South River Basin Upgrade (ISQ) 25,000.00 5,506.25 30,506.25 September 27 2012 : South River Basin Upgrade 2 (ISQ) 15,000.00 3,912.50 18,912.50 September 27 2012 : Forrester Street Drain Relief (ISQ) 15,000.00 4,262.50 19,262.50 September 27 2012 : City Hall Roof (ISQ) 15,000.00 9,212.50 24,212.50 September 27 2012 : City Hall Skylights (ISQ) 5,000.00 1,900.00 6,900.00 September 27 2012 : City Hall Windows (ISQ) 10,000.00 4,831.25 14,831.25 15 ---PAGE BREAK--- Aggregate Debt Service DATE Issue : Purpose PRINCIPAL INTEREST TOTAL P+I September 27 2012 : City Hall Masonry Repairs (ISQ) 20,000.00 11,871.88 31,871.88 September 27 2012 : Roads, Sidewalks & Crosswalks (ISQ) 50,000.00 7,709.38 57,709.38 September 27 2012 : Collins Cove Seawall (ISQ) 5,000.00 1,409.38 6,409.38 September 27 2012 : Remediation (ISQ) 35,000.00 19,293.75 54,293.75 September 27 2012 : Collins School (OSQ) 35,000.00 18,156.25 53,156.25 September 27 2012 : Collins School 2 (OSQ) 135,000.00 74,690.63 209,690.63 September 27 2012 : Saltonstall School (OSQ) 30,000.00 16,421.88 46,421.88 September 27 2012 : Saltonstall School 2 (OSQ) 60,000.00 34,600.00 94,600.00 Subtotal $1,495,000.00 $344,446.90 $1,839,446.90 09/15/2020 September 25 2019 : Senior Center Construction 94,136.00 88,853.40 182,989.40 September 25 2019 : Planning- Blaney Street Pier & Terminal 1 10,000.00 1,250.00 11,250.00 September 25 2019 : Planning- Blaney Street Pier & Terminal 2 45,000.00 6,250.00 51,250.00 September 25 2019 : Telephone System Replacement 1 29,435.00 2,610.88 32,045.88 September 25 2019 : Telephone System Replacement 2 9,862.00 996.55 10,858.55 September 25 2019 : Bike Path Design/ Construction 1 2,500.00 562.50 3,062.50 September 25 2019 : Boston Street Roadway Improvements 5,000.00 1,725.00 6,725.00 September 25 2019 : First Swampscott Rd Intersection Improvements2 10,000.00 5,750.00 15,750.00 September 25 2019 : 370 Essex St. HVAC Design, & Construction 5,000.00 6,550.00 11,550.00 September 25 2019 : Boston Street Corridor Roadway Improvements 1 5,000.00 1,725.00 6,725.00 September 25 2019 : Boston Street Corridor Roadway Improvements 2 5,000.00 2,775.00 7,775.00 September 25 2019 : Bridge Street Massworks Roadway Improvements 2 5,000.00 2,175.00 7,175.00 September 25 2019 : Canal Street Bike Path 1 10,000.00 3,650.00 13,650.00 September 25 2019 : Canal Street Bike Path 2 15,000.00 7,400.00 22,400.00 September 25 2019 : Canal Street Corridor Roadway Improvements 1 5,000.00 2,500.00 7,500.00 September 25 2019 : Canal Street Corridor Roadway Improvements 2 5,000.00 3,100.00 8,100.00 September 25 2019 : Essex St. Ped. & Vehicle Access Improvements 2 70,000.00 32,200.00 102,200.00 September 25 2019 : First/Swampscott Rd Intersection Improvements 1(I) 35,000.00 14,850.00 49,850.00 September 25 2019 : First/Swampscott Rd Intersection Improvements 2(I) 5,000.00 2,175.00 7,175.00 September 25 2019 : Forest River Park and Pool Design 5,000.00 2,075.00 7,075.00 September 25 2019 : Forest River Park Seawall Replacement 1 55,000.00 33,300.00 88,300.00 September 25 2019 : Forest River Park Seawall Replacement 2 20,000.00 11,900.00 31,900.00 September 25 2019 : Roads, Sidewalks, & Crosswalks 25,000.00 11,425.00 36,425.00 September 25 2019 : Replacement School Bldg Grounds Equipment 1 15,425.00 1,510.63 16,935.63 September 25 2019 : Replacement School Bldg Grounds Equipment 2 4,575.00 239.38 4,814.38 September 25 2019 : Annual Equipment Life Cycle Mngment(Schools) 50,000.00 5,500.00 55,500.00 September 25 2019 : Telephone System Replacements (Schools) 1 80,000.00 8,750.00 88,750.00 September 25 2019 : Telephone System Replacements (Schools) 2 30,000.00 4,000.00 34,000.00 September 25 2019 : Bertram Field Schematic Design Phase II 2 10,000.00 1,250.00 11,250.00 September 25 2019 : High School College & Career Center Floor 5,000.00 1,625.00 6,625.00 September 25 2019 : Salerno Roof & Mechanical HVAC Replacement 5,000.00 2,225.00 7,225.00 September 25 2019 : Canal Street - Phase II (Sewer) 1 5,000.00 1,225.00 6,225.00 September 25 2019 : Sewer Pump Station 55,269.00 52,706.73 107,975.73 September 25 2019 : Canal Street (Sewer) Phase II 1 6,091.00 2,052.28 8,143.28 September 25 2019 : Canal Street (Sewer) Phase II 2 38,909.00 17,922.73 56,831.73 September 25 2019 : MS4 Compliance/Illicit Connection Removal 1 2,500.00 187.50 2,687.50 September 25 2019 : MS4 Compliance/Illicit Connection Removal 2 6,460.00 3,086.50 9,546.50 September 25 2019 : Pre-Paving Sewer/Drain Inspections 4,838.00 870.95 5,708.95 September 25 2019 : SSES Report Implementation 1 5,000.00 2,825.00 7,825.00 16 ---PAGE BREAK--- Aggregate Debt Service DATE Issue : Purpose PRINCIPAL INTEREST TOTAL P+I September 25 2019 : 289 Derby Drain 2 5,000.00 5,450.00 10,450.00 September 25 2019 : Fowler & No Pine Street Sewer Rehabilitation 1 5,000.00 2,075.00 7,075.00 September 25 2019 : Fowler & No Pine Street Sewer Rehabilitation 2 5,000.00 5,250.00 10,250.00 September 25 2019 : Willow Ave Sewer Replacement 5,000.00 2,075.00 7,075.00 September 25 2019 : Rosie's Pond Flood Improvements 2 10,000.00 12,350.00 22,350.00 September 25 2019 : Water System Upgrades- Valves & Hydrants 15,000.00 17,625.00 32,625.00 September 25 2019 : Szetela Lane Water 5,000.00 4,375.00 9,375.00 September 25 2019 : Citywide Flushing, Valve Leak Detection, GIS 5,000.00 3,925.00 8,925.00 September 25 2019 : Citywide Water System Flushing, Maintenance 5,000.00 7,075.00 12,075.00 Subtotal $860,000.00 $411,975.03 $1,271,975.03 10/15/2020 November 17 2016 : Advance Refunding October 15 2007 High School 320,000.00 50,040.00 370,040.00 November 17 2016 : Advance Refunding October 15 2007 Ferry Boat 50,000.00 1,000.00 51,000.00 November 17 2016 : Adv Ref Oct 15 2007 Water System Improvements 150,000.00 23,260.00 173,260.00 November 17 2016 : Collins Middle School 30,000.00 12,950.00 42,950.00 November 17 2016 : Bentley Carpet Replacement (School) 25,000.00 500.00 25,500.00 November 17 2016 : Districtwide Wireless Infrastructure (School) 65,000.00 1,300.00 66,300.00 November 17 2016 : Districtwide Computer Replacement (School) 5,000.00 700.00 5,700.00 November 17 2016 : Saltonstall School Parking/DropOff Area Improve(I) 10,000.00 2,200.00 12,200.00 November 17 2016 : Salerno Automotive Roof Replace (School) 5,000.00 700.00 5,700.00 November 17 2016 : Folly Hill Tank Storage (Water) 45,000.00 7,400.00 52,400.00 November 17 2016 : Water Meter Replacement Program 10,000.00 1,400.00 11,400.00 November 17 2016 : Rehab Gallows Hill Water Tanks 1 140,000.00 18,400.00 158,400.00 November 17 2016 : Rehab Gallows Hill Water Tanks 2 5,000.00 2,400.00 7,400.00 November 17 2016 : Water System Upgrade (Valves & Hydrants) 20,000.00 7,950.00 27,950.00 November 17 2016 : Water System Improvements 45,000.00 18,325.00 63,325.00 November 17 2016 : Water Leak Protection, Flushing & GIS Admin 1 20,000.00 2,900.00 22,900.00 November 17 2016 : Water Leak Protection, Flushing & GIS Admin 2 20,000.00 2,900.00 22,900.00 November 17 2016 : Canal Street Sewer Phase 2 55,000.00 23,950.00 78,950.00 November 17 2016 : Sewer Leak Detection, Flushing & GIS Admin 15,000.00 6,350.00 21,350.00 November 17 2016 : Sewer Illicit Connection Removal 30,000.00 12,075.00 42,075.00 November 17 2016 : Bikeway & Roadway Improvements 20,000.00 5,000.00 25,000.00 November 17 2016 : Painting Pedestrian & Historical Lights 5,000.00 200.00 5,200.00 November 17 2016 : Bike Path Design/Construction 5,000.00 200.00 5,200.00 November 17 2016 : McGrath Park Paving/Concession Stand 10,000.00 2,300.00 12,300.00 November 17 2016 : Roads Sidewalk & Crosswalks (Non-Chapter 90) 10,000.00 2,400.00 12,400.00 November 17 2016 : General Building Maintenance Upgrades 5,000.00 200.00 5,200.00 November 17 2016 : Replace Fire Engine 2 or 5 60,000.00 7,800.00 67,800.00 November 17 2016 : Citywide Computer Replacement 15,000.00 1,800.00 16,800.00 November 17 2016 : Citywide Fiber Optic Network 185,000.00 3,700.00 188,700.00 November 17 2016 : Winter Island Electrical Upgrades RVField(Ph 1)(I) 5,000.00 200.00 5,200.00 November 17 2016 : Blaney Street Pier & Terminal (City Match) 15,000.00 4,100.00 19,100.00 November 17 2016 : Mary Jane Lee Park (Phase II) 5,000.00 900.00 5,900.00 November 17 2016 : Old City Hall Window Replacement 5,000.00 1,625.00 6,625.00 November 17 2016 : Compressor (Public Services) 10,000.00 200.00 10,200.00 November 17 2016 : Open Space/Pocket Park Upgrades(Public Services)-I 5,000.00 200.00 5,200.00 November 17 2016 : Purchase/Replace Non-Conforming Signs (PubServ)(I) 10,000.00 200.00 10,200.00 November 17 2016 : Ford F550 6-wheel dump Truck (unit 71)(PubServ)(I) 5,000.00 1,100.00 6,100.00 November 17 2016 : Ford F550 6-wheel Dump Truck (unit 71)(PubServ)(I) 5,000.00 900.00 5,900.00 17 ---PAGE BREAK--- Aggregate Debt Service DATE Issue : Purpose PRINCIPAL INTEREST TOTAL P+I November 17 2016 : 2000 Int'l Dump Truck (unit 14)(PubServ)(I) 15,000.00 2,200.00 17,200.00 November 17 2016 : Trash Packer (Public Services) 10,000.00 1,200.00 11,200.00 November 17 2016 : 2-Ton Propane Hot Box (Public Services) 5,000.00 600.00 5,600.00 November 17 2016 : Automation of South Harbor Garages (Parking) 50,000.00 8,200.00 58,200.00 November 17 2016 : Parking Garage Upgrades 5,000.00 2,400.00 7,400.00 November 17 2016 : Transfer Station Property Remediation 25,000.00 10,275.00 35,275.00 Subtotal $1,555,000.00 $254,600.00 $1,809,600.00 11/01/2020 December 2 2015 : Folly Hill Tank Storage I 220,000.00 27,500.00 247,500.00 December 2 2015 : Folly Hill Tank Storage II 110,000.00 13,750.00 123,750.00 December 2 2015 : System Flushing/Valve Maintenance 45,000.00 5,500.00 50,500.00 December 2 2015 : Meter Replacement Program 10,000.00 1,250.00 11,250.00 December 2 2015 : Valve Pipe Replacement 10,000.00 1,250.00 11,250.00 December 2 2015 : I/I Study, Design & Construction 40,000.00 11,534.38 51,534.38 December 2 2015 : Canal St. Phase II 90,000.00 26,940.63 116,940.63 December 2 2015 : Illicit Connection Removal 5,000.00 1,540.63 6,540.63 December 2 2015 : Line Extension, Rehab & Upgrades 5,000.00 750.00 5,750.00 December 2 2015 : Garage Updates 10,000.00 2,290.63 12,290.63 December 2 2015 : Kiosk Umbrellas 5,000.00 625.00 5,625.00 December 2 2015 : Computer Replacement Program 25,000.00 2,750.00 27,750.00 December 2 2015 : District-Wide Security Updates 10,000.00 875.00 10,875.00 December 2 2015 : Replace Lunchroom/Cafeteria Equipment 5,000.00 375.00 5,375.00 December 2 2015 : HS Transformer Replacement 5,000.00 500.00 5,500.00 December 2 2015 : Saltonstall Elementary School I 30,000.00 8,921.88 38,921.88 December 2 2015 : Saltonstall Elementary School II 15,000.00 3,831.25 18,831.25 December 2 2015 : Collins Middle School I 20,000.00 5,840.63 25,840.63 December 2 2015 : Collins Middle School II 40,000.00 12,325.00 52,325.00 December 2 2015 : Collins Middle School III 60,000.00 17,696.88 77,696.88 December 2 2015 : Golf Course Equipment 15,000.00 1,250.00 16,250.00 December 2 2015 : Wrought Iron Fence 5,000.00 750.00 5,750.00 December 2 2015 : Memorial Park Pillars & Fencing 5,000.00 125.00 5,125.00 December 2 2015 : Blaney Street Terminal - City Match 15,000.00 3,831.25 18,831.25 December 2 2015 : Winter Island Pathway & Fort Restoration 5,000.00 750.00 5,750.00 December 2 2015 : Police Vehicle GPS Units 5,000.00 500.00 5,500.00 December 2 2015 : DPS 1988 Ladder Replacement 15,000.00 2,962.50 17,962.50 December 2 2015 : DPS 2000 Dump Truck Replacement 10,000.00 1,975.00 11,975.00 December 2 2015 : Paving 45,000.00 9,562.50 54,562.50 December 2 2015 : Seawalls 10,000.00 2,925.00 12,925.00 December 2 2015 : Bike Path 5,000.00 125.00 5,125.00 Subtotal $895,000.00 $170,803.16 $1,065,803.16 12/01/2020 December 19 2013 : Saltonstall School (OSQ) 70,000.00 23,668.75 93,668.75 December 19 2013 : Collins Middle School (OSQ) 140,000.00 48,856.25 188,856.25 December 19 2013 : School Building Repairs (ISQ) 10,000.00 1,653.13 11,653.13 December 19 2013 : School Equipment (ISQ) 10,000.00 800.00 10,800.00 December 19 2013 : Police Equipment (ISQ) 25,000.00 1,500.00 26,500.00 December 19 2013 : Fire Equipment (ISQ) 75,000.00 12,743.75 87,743.75 December 19 2013 : Electric Dept Equipment (ISQ) 10,000.00 800.00 10,800.00 December 19 2013 : Parks & Rec (ISQ) 5,000.00 2,075.00 7,075.00 18 ---PAGE BREAK--- Aggregate Debt Service DATE Issue : Purpose PRINCIPAL INTEREST TOTAL P+I December 19 2013 : Canal Street Utility Program (ISQ) 165,000.00 57,768.75 222,768.75 December 19 2013 : Cur Ref of Jan 15 2003 Bowditch School (OSQ) 80,000.00 4,900.00 84,900.00 December 19 2013 : Cur Ref of Jan 15 2003 Carlton School (OSQ) 60,000.00 3,600.00 63,600.00 December 19 2013 : Adv Ref of Jan 1 2005 School (ISQ) 95,000.00 8,728.13 103,728.13 December 19 2013 : Adv Ref of Jan 1 2005 Carlton School (OSQ) 25,000.00 2,312.50 27,312.50 December 3 2014 : South River Basin Upgrade 100,000.00 25,312.50 125,312.50 December 3 2014 : Drain Improvements 15,000.00 3,796.88 18,796.88 December 3 2014 : Road Improvements 200,000.00 20,000.00 220,000.00 December 3 2014 : Bertram Field 110,000.00 16,506.25 126,506.25 December 3 2014 : Electric- Generator 5,000.00 706.25 5,706.25 December 3 2014 : Parking- Water Proofing 55,000.00 13,921.88 68,921.88 December 3 2014 : Planning- MBTA Station 25,000.00 6,328.13 31,328.13 Subtotal $1,280,000.00 $255,978.15 $1,535,978.15 12/15/2020 June 27 2018 : Planning Blaney St Pier & Terminal - 2,006.25 2,006.25 June 27 2018 : Police GPS for Vehicles - 500.00 500.00 June 27 2018 : Old Town Hall Roof - 1,000.00 1,000.00 June 27 2018 : Bike Path Master Plan Upgrades - 2,006.25 2,006.25 June 27 2018 : Canal St Roadway & Bike Path Improvements I - 375.00 375.00 June 27 2018 : Canal St Roadway & Bike Path Improvements II - 24,109.38 24,109.38 June 27 2018 : Citywide Traffic Calming Improvements II - 1,225.00 1,225.00 June 27 2018 : Essex St Roadway Improvements I - 500.00 500.00 June 27 2018 : Essex St Roadway Improvements II - 875.00 875.00 June 27 2018 : First/Swampscott Rd Intersection Improvement II (I - 1,881.25 1,881.25 June 27 2018 : Seawall at Collins Cove - 1,915.63 1,915.63 June 27 2018 : South Salem Walk & Downtown Walk - 500.00 500.00 June 27 2018 : Inflatable Boat & Motor II - 250.00 250.00 June 27 2018 : Annual Life Cycle Management I - 125.00 125.00 June 27 2018 : Annual Life Cycle Management II - 1,000.00 1,000.00 June 27 2018 : Fiber Optic Network Phase II - 7,875.00 7,875.00 June 27 2018 : Telephone System Replacement I - 3,125.00 3,125.00 June 27 2018 : Telephone System Replacement II - 1,750.00 1,750.00 June 27 2018 : Basketball Court Renovations - 500.00 500.00 June 27 2018 : Memorial Park Pillars & Fencing Phase II - 375.00 375.00 June 27 2018 : Playground Upgrades - 625.00 625.00 June 27 2018 : Historic Wrought Iron Fence- Salem Commons I - 125.00 125.00 June 27 2018 : Historic Wrought Iron Fence- Salem Commons II - 625.00 625.00 June 27 2018 : Dickson Memorial Chapel Restoration - 1,000.00 1,000.00 June 27 2018 : Forest River Conservation Area Improvements - 375.00 375.00 June 27 2018 : License Plate Readers - 375.00 375.00 June 27 2018 : Roof Replacement Police I - 125.00 125.00 June 27 2018 : Roof Replacement Police II - 12,056.25 12,056.25 June 27 2018 : Public Services Ford F150 - 750.00 750.00 June 27 2018 : Public Services Dump Truck (Sander) - 2,125.00 2,125.00 June 27 2018 : Fire Chief Response Vehicle I - 500.00 500.00 June 27 2018 : Parking Ford F150 - 250.00 250.00 June 27 2018 : Marked Cruisers - 1,250.00 1,250.00 June 27 2018 : K9 Crusier - 250.00 250.00 June 27 2018 : 29 Passenger Bus - 750.00 750.00 19 ---PAGE BREAK--- Aggregate Debt Service DATE Issue : Purpose PRINCIPAL INTEREST TOTAL P+I June 27 2018 : 42 Passenger Bus - 1,250.00 1,250.00 June 27 2018 : 77 Passenger Bus - 1,250.00 1,250.00 June 27 2018 : Traffic Signal Upgrades - 375.00 375.00 June 27 2018 : Utility Pole Replacement - 375.00 375.00 June 27 2018 : First Swampscott Rd Intersection Improvements - 1,000.00 1,000.00 June 27 2018 : Forest River Park & Pool Improvements - 1,000.00 1,000.00 June 27 2018 : Loring & Lafayette Improvements - 3,206.25 3,206.25 June 27 2018 : McGrath Park Additional Assessments - 3,125.00 3,125.00 June 27 2018 : Roads & Sidewalks - 16,365.63 16,365.63 June 27 2018 : IT Annual Inventory (City) - 1,625.00 1,625.00 June 27 2018 : IT Community Cameras (Police) - 125.00 125.00 June 27 2018 : IT Document Management System - 4,000.00 4,000.00 June 27 2018 : IT Facilities Assessment Software - 3,125.00 3,125.00 June 27 2018 : Library HVAC Upgraeds - 1,584.38 1,584.38 June 27 2018 : Library Structural Upgrades - 1,000.00 1,000.00 June 27 2018 : Basketball Court Renovations 2 - 2,006.25 2,006.25 June 27 2018 : Betram Field Schematic Design Phase II - 1,500.00 1,500.00 June 27 2018 : Playground Updates - 125.00 125.00 June 27 2018 : Salem Common Fence - 1,125.00 1,125.00 June 27 2018 : Winter Island Function Hall Accessibility - 375.00 375.00 June 27 2018 : Parking Equipment/Kiosks - 1,125.00 1,125.00 June 27 2018 : Traffic Signal Communication Upgrades - 1,000.00 1,000.00 June 27 2018 : Historic Cemetery Restoration - 2,375.00 2,375.00 June 27 2018 : Lafayette Park Restoration - 375.00 375.00 June 27 2018 : Police Dive Equipment - 1,125.00 1,125.00 June 27 2018 : Police Fire Alarm Replacement - 375.00 375.00 June 27 2018 : School District Computer Replacement - 375.00 375.00 June 27 2018 : Annual Life Cycle Management I (Schools) - 750.00 750.00 June 27 2018 : Annual Life Cycle Management II (Schools) - 2,375.00 2,375.00 June 27 2018 : Bentley School HVAC Equipment - 375.00 375.00 June 27 2018 : High School HVAC Upgrades - 1,000.00 1,000.00 June 27 2018 : IT Annual Inventory Schools - 3,250.00 3,250.00 June 27 2018 : Bentley School Roof Replacement - 1,125.00 1,125.00 June 27 2018 : Water System Upgrades- Valves & Hydrants - 19,162.50 19,162.50 June 27 2018 : Water Distribution System Improvements - 22,062.50 22,062.50 June 27 2018 : Outlook Ave Drainage Impovements - 125.00 125.00 June 27 2018 : Water System Flushing, Valves, Leak & GIS - 3,250.00 3,250.00 June 27 2018 : Water System Transmission System - 3,250.00 3,250.00 June 27 2018 : Water- Salem Pump Station & Booster Station - 375.00 375.00 June 27 2018 : Water- Essex St Improvements - 3,365.63 3,365.63 June 27 2018 : Sewer Pump Station I - 1,000.00 1,000.00 June 27 2018 : Sewer Pump Station II - 63,371.88 63,371.88 June 27 2018 : Sewer System Flushing, Valve, Leak & GIS I - 2,493.75 2,493.75 June 27 2018 : Sewer System Flushing, Valve, Leak & GIS II - 5,125.00 5,125.00 June 27 2018 : Swampscott Rd Sewer Pump Station II - 1,000.00 1,000.00 June 27 2018 : Sewer MS4 Compliance/Connection Removal I - 125.00 125.00 June 27 2018 : Sewer MS4 Compliance/Connection Removal II - 10,781.25 10,781.25 June 27 2018 : Canal St Sewer Upgrades Phase I - 5,800.00 5,800.00 June 27 2018 : Sewer- Essex St Improvements - 3,365.63 3,365.63 20 ---PAGE BREAK--- Aggregate Debt Service DATE Issue : Purpose PRINCIPAL INTEREST TOTAL P+I Subtotal - $277,890.66 $277,890.66 01/15/2021 December 14 2006 DW-05-12 : SINGLE PURPOSE - 8,007.78 8,007.78 Subtotal - $8,007.78 $8,007.78 03/01/2021 October 15 2010 (SQ) : Water Systems Improvement - 19,200.00 19,200.00 October 15 2010 (SQ) : Water Meters - 20,000.00 20,000.00 October 15 2010 (SQ) : Water Main - 22,000.00 22,000.00 October 15 2010 (SQ) : Sewer Pump Station - 1,600.00 1,600.00 October 15 2010 (SQ) : South River Basin Upgrade - 13,000.00 13,000.00 October 15 2010 (SQ) : Fire Pumper Truck - 2,500.00 2,500.00 October 15 2010 (SQ) : School Infrastructure - 500.00 500.00 October 15 2010 (SQ) : Roads, Sidewalks & Crosswalks - 8,400.00 8,400.00 October 15 2010 (SQ) : Furlong Park Remodeling - 1,600.00 1,600.00 October 15 2010 (SQ) : Roads, Sidewalks & Crosswalks 2 - 1,000.00 1,000.00 October 15 2010 (SQ) : Canal St. Improvement Design - 3,000.00 3,000.00 October 15 2010 (SQ) : School Ballfield Remodeling - 400.00 400.00 September 27 2012 : Water System Improvements (OSQ) - 14,650.00 14,650.00 September 27 2012 : Sewer Pump Station Upgrade (ISQ) - 2,018.75 2,018.75 September 27 2012 : South River Basin Upgrade (ISQ) - 5,006.25 5,006.25 September 27 2012 : South River Basin Upgrade 2 (ISQ) - 3,612.50 3,612.50 September 27 2012 : Forrester Street Drain Relief (ISQ) - 3,962.50 3,962.50 September 27 2012 : City Hall Roof (ISQ) - 8,912.50 8,912.50 September 27 2012 : City Hall Skylights (ISQ) - 1,800.00 1,800.00 September 27 2012 : City Hall Windows (ISQ) - 4,631.25 4,631.25 September 27 2012 : City Hall Masonry Repairs (ISQ) - 11,471.88 11,471.88 September 27 2012 : Roads, Sidewalks & Crosswalks (ISQ) - 6,709.38 6,709.38 September 27 2012 : Collins Cove Seawall (ISQ) - 1,309.38 1,309.38 September 27 2012 : Remediation (ISQ) - 18,593.75 18,593.75 September 27 2012 : Collins School (OSQ) - 17,456.25 17,456.25 September 27 2012 : Collins School 2 (OSQ) - 71,990.63 71,990.63 September 27 2012 : Saltonstall School (OSQ) - 15,821.88 15,821.88 September 27 2012 : Saltonstall School 2 (OSQ) - 33,400.00 33,400.00 Subtotal - $314,546.90 $314,546.90 03/15/2021 September 25 2019 : Senior Center Construction - 86,500.00 86,500.00 September 25 2019 : Planning- Blaney Street Pier & Terminal 1 - 1,000.00 1,000.00 September 25 2019 : Planning- Blaney Street Pier & Terminal 2 - 5,125.00 5,125.00 September 25 2019 : Telephone System Replacement 1 - 1,875.00 1,875.00 September 25 2019 : Telephone System Replacement 2 - 750.00 750.00 September 25 2019 : Bike Path Design/ Construction 1 - 500.00 500.00 September 25 2019 : Boston Street Roadway Improvements - 1,600.00 1,600.00 September 25 2019 : First Swampscott Rd Intersection Improvements2 - 5,500.00 5,500.00 September 25 2019 : 370 Essex St. HVAC Design, & Construction - 6,425.00 6,425.00 September 25 2019 : Boston Street Corridor Roadway Improvements 1 - 1,600.00 1,600.00 September 25 2019 : Boston Street Corridor Roadway Improvements 2 - 2,650.00 2,650.00 September 25 2019 : Bridge Street Massworks Roadway Improvements 2 - 2,050.00 2,050.00 September 25 2019 : Canal Street Bike Path 1 - 3,400.00 3,400.00 September 25 2019 : Canal Street Bike Path 2 - 7,025.00 7,025.00 21 ---PAGE BREAK--- Aggregate Debt Service DATE Issue : Purpose PRINCIPAL INTEREST TOTAL P+I September 25 2019 : Canal Street Corridor Roadway Improvements 1 - 2,375.00 2,375.00 September 25 2019 : Canal Street Corridor Roadway Improvements 2 - 2,975.00 2,975.00 September 25 2019 : Essex St. Ped. & Vehicle Access Improvements 2 - 30,450.00 30,450.00 September 25 2019 : First/Swampscott Rd Intersection Improvements 1(I) - 13,975.00 13,975.00 September 25 2019 : First/Swampscott Rd Intersection Improvements 2(I) - 2,050.00 2,050.00 September 25 2019 : Forest River Park and Pool Design - 1,950.00 1,950.00 September 25 2019 : Forest River Park Seawall Replacement 1 - 31,925.00 31,925.00 September 25 2019 : Forest River Park Seawall Replacement 2 - 11,400.00 11,400.00 September 25 2019 : Roads, Sidewalks, & Crosswalks - 10,800.00 10,800.00 September 25 2019 : Replacement School Bldg Grounds Equipment 1 - 1,125.00 1,125.00 September 25 2019 : Replacement School Bldg Grounds Equipment 2 - 125.00 125.00 September 25 2019 : Annual Equipment Life Cycle Mngment(Schools) - 4,250.00 4,250.00 September 25 2019 : Telephone System Replacements (Schools) 1 - 6,750.00 6,750.00 September 25 2019 : Telephone System Replacements (Schools) 2 - 3,250.00 3,250.00 September 25 2019 : Bertram Field Schematic Design Phase II 2 - 1,000.00 1,000.00 September 25 2019 : High School College & Career Center Floor - 1,500.00 1,500.00 September 25 2019 : Salerno Roof & Mechanical HVAC Replacement - 2,100.00 2,100.00 September 25 2019 : Canal Street - Phase II (Sewer) 1 - 1,100.00 1,100.00 September 25 2019 : Sewer Pump Station - 51,325.00 51,325.00 September 25 2019 : Canal Street (Sewer) Phase II 1 - 1,900.00 1,900.00 September 25 2019 : Canal Street (Sewer) Phase II 2 - 16,950.00 16,950.00 September 25 2019 : MS4 Compliance/Illicit Connection Removal 1 - 125.00 125.00 September 25 2019 : MS4 Compliance/Illicit Connection Removal 2 - 2,925.00 2,925.00 September 25 2019 : Pre-Paving Sewer/Drain Inspections - 750.00 750.00 September 25 2019 : SSES Report Implementation 1 - 2,700.00 2,700.00 September 25 2019 : 289 Derby Drain 2 - 5,325.00 5,325.00 September 25 2019 : Fowler & No Pine Street Sewer Rehabilitation 1 - 1,950.00 1,950.00 September 25 2019 : Fowler & No Pine Street Sewer Rehabilitation 2 - 5,125.00 5,125.00 September 25 2019 : Willow Ave Sewer Replacement - 1,950.00 1,950.00 September 25 2019 : Rosie's Pond Flood Improvements 2 - 12,100.00 12,100.00 September 25 2019 : Water System Upgrades- Valves & Hydrants - 17,250.00 17,250.00 September 25 2019 : Szetela Lane Water - 4,250.00 4,250.00 September 25 2019 : Citywide Flushing, Valve Leak Detection, GIS - 3,800.00 3,800.00 September 25 2019 : Citywide Water System Flushing, Maintenance - 6,950.00 6,950.00 Subtotal - $390,475.00 $390,475.00 04/15/2021 November 17 2016 : Advance Refunding October 15 2007 High School - 43,640.00 43,640.00 November 17 2016 : Adv Ref Oct 15 2007 Water System Improvements - 20,260.00 20,260.00 November 17 2016 : Collins Middle School - 12,350.00 12,350.00 November 17 2016 : Districtwide Computer Replacement (School) - 600.00 600.00 November 17 2016 : Saltonstall School Parking/DropOff Area Improve(I) - 2,000.00 2,000.00 November 17 2016 : Salerno Automotive Roof Replace (School) - 600.00 600.00 November 17 2016 : Folly Hill Tank Storage (Water) - 6,500.00 6,500.00 November 17 2016 : Water Meter Replacement Program - 1,200.00 1,200.00 November 17 2016 : Rehab Gallows Hill Water Tanks 1 - 15,600.00 15,600.00 November 17 2016 : Rehab Gallows Hill Water Tanks 2 - 2,300.00 2,300.00 November 17 2016 : Water System Upgrade (Valves & Hydrants) - 7,550.00 7,550.00 November 17 2016 : Water System Improvements - 17,425.00 17,425.00 November 17 2016 : Water Leak Protection, Flushing & GIS Admin 1 - 2,500.00 2,500.00 22 ---PAGE BREAK--- Aggregate Debt Service DATE Issue : Purpose PRINCIPAL INTEREST TOTAL P+I November 17 2016 : Water Leak Protection, Flushing & GIS Admin 2 - 2,500.00 2,500.00 November 17 2016 : Canal Street Sewer Phase 2 - 22,850.00 22,850.00 November 17 2016 : Sewer Leak Detection, Flushing & GIS Admin - 6,050.00 6,050.00 November 17 2016 : Sewer Illicit Connection Removal - 11,475.00 11,475.00 November 17 2016 : Bikeway & Roadway Improvements - 4,600.00 4,600.00 November 17 2016 : Painting Pedestrian & Historical Lights - 100.00 100.00 November 17 2016 : Bike Path Design/Construction - 100.00 100.00 November 17 2016 : McGrath Park Paving/Concession Stand - 2,100.00 2,100.00 November 17 2016 : Roads Sidewalk & Crosswalks (Non-Chapter 90) - 2,200.00 2,200.00 November 17 2016 : General Building Maintenance Upgrades - 100.00 100.00 November 17 2016 : Replace Fire Engine 2 or 5 - 6,600.00 6,600.00 November 17 2016 : Citywide Computer Replacement - 1,500.00 1,500.00 November 17 2016 : Winter Island Electrical Upgrades RVField(Ph 1)(I) - 100.00 100.00 November 17 2016 : Blaney Street Pier & Terminal (City Match) - 3,800.00 3,800.00 November 17 2016 : Mary Jane Lee Park (Phase II) - 800.00 800.00 November 17 2016 : Old City Hall Window Replacement - 1,525.00 1,525.00 November 17 2016 : Open Space/Pocket Park Upgrades(Public Services)-I - 100.00 100.00 November 17 2016 : Ford F550 6-wheel dump Truck (unit 71)(PubServ)(I) - 1,000.00 1,000.00 November 17 2016 : Ford F550 6-wheel Dump Truck (unit 71)(PubServ)(I) - 800.00 800.00 November 17 2016 : 2000 Int'l Dump Truck (unit 14)(PubServ)(I) - 1,900.00 1,900.00 November 17 2016 : Trash Packer (Public Services) - 1,000.00 1,000.00 November 17 2016 : 2-Ton Propane Hot Box (Public Services) - 500.00 500.00 November 17 2016 : Automation of South Harbor Garages (Parking) - 7,200.00 7,200.00 November 17 2016 : Parking Garage Upgrades - 2,300.00 2,300.00 November 17 2016 : Transfer Station Property Remediation - 9,775.00 9,775.00 Subtotal - $223,500.00 $223,500.00 05/01/2021 December 2 2015 : Folly Hill Tank Storage I - 22,000.00 22,000.00 December 2 2015 : Folly Hill Tank Storage II - 11,000.00 11,000.00 December 2 2015 : System Flushing/Valve Maintenance - 4,375.00 4,375.00 December 2 2015 : Meter Replacement Program - 1,000.00 1,000.00 December 2 2015 : Valve Pipe Replacement - 1,000.00 1,000.00 December 2 2015 : I/I Study, Design & Construction - 10,534.38 10,534.38 December 2 2015 : Canal St. Phase II - 24,690.63 24,690.63 December 2 2015 : Illicit Connection Removal - 1,415.63 1,415.63 December 2 2015 : Line Extension, Rehab & Upgrades - 625.00 625.00 December 2 2015 : Garage Updates - 2,040.63 2,040.63 December 2 2015 : Kiosk Umbrellas - 500.00 500.00 December 2 2015 : Computer Replacement Program - 2,125.00 2,125.00 December 2 2015 : District-Wide Security Updates - 625.00 625.00 December 2 2015 : Replace Lunchroom/Cafeteria Equipment - 250.00 250.00 December 2 2015 : HS Transformer Replacement - 375.00 375.00 December 2 2015 : Saltonstall Elementary School I - 8,171.88 8,171.88 December 2 2015 : Saltonstall Elementary School II - 3,456.25 3,456.25 December 2 2015 : Collins Middle School I - 5,340.63 5,340.63 December 2 2015 : Collins Middle School II - 11,325.00 11,325.00 December 2 2015 : Collins Middle School III - 16,196.88 16,196.88 December 2 2015 : Golf Course Equipment - 875.00 875.00 December 2 2015 : Wrought Iron Fence - 625.00 625.00 23 ---PAGE BREAK--- Aggregate Debt Service DATE Issue : Purpose PRINCIPAL INTEREST TOTAL P+I December 2 2015 : Blaney Street Terminal - City Match - 3,456.25 3,456.25 December 2 2015 : Winter Island Pathway & Fort Restoration - 625.00 625.00 December 2 2015 : Police Vehicle GPS Units - 375.00 375.00 December 2 2015 : DPS 1988 Ladder Replacement - 2,587.50 2,587.50 December 2 2015 : DPS 2000 Dump Truck Replacement - 1,725.00 1,725.00 December 2 2015 : Paving - 8,437.50 8,437.50 December 2 2015 : Seawalls - 2,675.00 2,675.00 Subtotal - $148,428.16 $148,428.16 06/01/2021 December 19 2013 : Saltonstall School (OSQ) - 22,268.75 22,268.75 December 19 2013 : Collins Middle School (OSQ) - 46,056.25 46,056.25 December 19 2013 : School Building Repairs (ISQ) - 1,453.13 1,453.13 December 19 2013 : School Equipment (ISQ) - 600.00 600.00 December 19 2013 : Police Equipment (ISQ) - 1,000.00 1,000.00 December 19 2013 : Fire Equipment (ISQ) - 11,243.75 11,243.75 December 19 2013 : Electric Dept Equipment (ISQ) - 600.00 600.00 December 19 2013 : Parks & Rec (ISQ) - 1,975.00 1,975.00 December 19 2013 : Canal Street Utility Program (ISQ) - 54,468.75 54,468.75 December 19 2013 : Cur Ref of Jan 15 2003 Bowditch School (OSQ) - 3,300.00 3,300.00 December 19 2013 : Cur Ref of Jan 15 2003 Carlton School (OSQ) - 2,400.00 2,400.00 December 19 2013 : Adv Ref of Jan 1 2005 School (ISQ) - 6,828.13 6,828.13 December 19 2013 : Adv Ref of Jan 1 2005 Carlton School (OSQ) - 1,812.50 1,812.50 December 3 2014 : South River Basin Upgrade - 23,312.50 23,312.50 December 3 2014 : Drain Improvements - 3,496.88 3,496.88 December 3 2014 : Road Improvements - 16,000.00 16,000.00 December 3 2014 : Bertram Field - 14,306.25 14,306.25 December 3 2014 : Electric- Generator - 606.25 606.25 December 3 2014 : Parking- Water Proofing - 12,821.88 12,821.88 December 3 2014 : Planning- MBTA Station - 5,828.13 5,828.13 Subtotal - $230,378.15 $230,378.15 06/15/2021 June 27 2018 : Planning Blaney St Pier & Terminal 5,000.00 2,006.25 7,006.25 June 27 2018 : Police GPS for Vehicles 5,000.00 500.00 5,500.00 June 27 2018 : Old Town Hall Roof 5,000.00 1,000.00 6,000.00 June 27 2018 : Bike Path Master Plan Upgrades 5,000.00 2,006.25 7,006.25 June 27 2018 : Canal St Roadway & Bike Path Improvements I 5,000.00 375.00 5,375.00 June 27 2018 : Canal St Roadway & Bike Path Improvements II 60,000.00 24,109.38 84,109.38 June 27 2018 : Citywide Traffic Calming Improvements II 5,000.00 1,225.00 6,225.00 June 27 2018 : Essex St Roadway Improvements I 5,000.00 500.00 5,500.00 June 27 2018 : Essex St Roadway Improvements II 5,000.00 875.00 5,875.00 June 27 2018 : First/Swampscott Rd Intersection Improvement II (I 5,000.00 1,881.25 6,881.25 June 27 2018 : Seawall at Collins Cove 5,000.00 1,915.63 6,915.63 June 27 2018 : South Salem Walk & Downtown Walk 5,000.00 500.00 5,500.00 June 27 2018 : Inflatable Boat & Motor II 5,000.00 250.00 5,250.00 June 27 2018 : Annual Life Cycle Management I 5,000.00 125.00 5,125.00 June 27 2018 : Annual Life Cycle Management II 10,000.00 1,000.00 11,000.00 June 27 2018 : Fiber Optic Network Phase II 100,000.00 7,875.00 107,875.00 June 27 2018 : Telephone System Replacement I 60,000.00 3,125.00 63,125.00 June 27 2018 : Telephone System Replacement II 20,000.00 1,750.00 21,750.00 24 ---PAGE BREAK--- Aggregate Debt Service DATE Issue : Purpose PRINCIPAL INTEREST TOTAL P+I June 27 2018 : Basketball Court Renovations 5,000.00 500.00 5,500.00 June 27 2018 : Memorial Park Pillars & Fencing Phase II 5,000.00 375.00 5,375.00 June 27 2018 : Playground Upgrades 5,000.00 625.00 5,625.00 June 27 2018 : Historic Wrought Iron Fence- Salem Commons I 5,000.00 125.00 5,125.00 June 27 2018 : Historic Wrought Iron Fence- Salem Commons II 5,000.00 625.00 5,625.00 June 27 2018 : Dickson Memorial Chapel Restoration 5,000.00 1,000.00 6,000.00 June 27 2018 : Forest River Conservation Area Improvements 5,000.00 375.00 5,375.00 June 27 2018 : License Plate Readers 5,000.00 375.00 5,375.00 June 27 2018 : Roof Replacement Police I 5,000.00 125.00 5,125.00 June 27 2018 : Roof Replacement Police II 30,000.00 12,056.25 42,056.25 June 27 2018 : Public Services Ford F150 15,000.00 750.00 15,750.00 June 27 2018 : Public Services Dump Truck (Sander) 40,000.00 2,125.00 42,125.00 June 27 2018 : Fire Chief Response Vehicle I 10,000.00 500.00 10,500.00 June 27 2018 : Parking Ford F150 5,000.00 250.00 5,250.00 June 27 2018 : Marked Cruisers 25,000.00 1,250.00 26,250.00 June 27 2018 : K9 Crusier 5,000.00 250.00 5,250.00 June 27 2018 : 29 Passenger Bus 15,000.00 750.00 15,750.00 June 27 2018 : 42 Passenger Bus 25,000.00 1,250.00 26,250.00 June 27 2018 : 77 Passenger Bus 25,000.00 1,250.00 26,250.00 June 27 2018 : Traffic Signal Upgrades 5,000.00 375.00 5,375.00 June 27 2018 : Utility Pole Replacement 5,000.00 375.00 5,375.00 June 27 2018 : First Swampscott Rd Intersection Improvements 5,000.00 1,000.00 6,000.00 June 27 2018 : Forest River Park & Pool Improvements 5,000.00 1,000.00 6,000.00 June 27 2018 : Loring & Lafayette Improvements 10,000.00 3,206.25 13,206.25 June 27 2018 : McGrath Park Additional Assessments 40,000.00 3,125.00 43,125.00 June 27 2018 : Roads & Sidewalks 40,000.00 16,365.63 56,365.63 June 27 2018 : IT Annual Inventory (City) 5,000.00 1,625.00 6,625.00 June 27 2018 : IT Community Cameras (Police) 5,000.00 125.00 5,125.00 June 27 2018 : IT Document Management System 15,000.00 4,000.00 19,000.00 June 27 2018 : IT Facilities Assessment Software 15,000.00 3,125.00 18,125.00 June 27 2018 : Library HVAC Upgraeds 5,000.00 1,584.38 6,584.38 June 27 2018 : Library Structural Upgrades 5,000.00 1,000.00 6,000.00 June 27 2018 : Basketball Court Renovations 2 5,000.00 2,006.25 7,006.25 June 27 2018 : Betram Field Schematic Design Phase II 20,000.00 1,500.00 21,500.00 June 27 2018 : Playground Updates 5,000.00 125.00 5,125.00 June 27 2018 : Salem Common Fence 15,000.00 1,125.00 16,125.00 June 27 2018 : Winter Island Function Hall Accessibility 5,000.00 375.00 5,375.00 June 27 2018 : Parking Equipment/Kiosks 15,000.00 1,125.00 16,125.00 June 27 2018 : Traffic Signal Communication Upgrades 5,000.00 1,000.00 6,000.00 June 27 2018 : Historic Cemetery Restoration 30,000.00 2,375.00 32,375.00 June 27 2018 : Lafayette Park Restoration 5,000.00 375.00 5,375.00 June 27 2018 : Police Dive Equipment 15,000.00 1,125.00 16,125.00 June 27 2018 : Police Fire Alarm Replacement 5,000.00 375.00 5,375.00 June 27 2018 : School District Computer Replacement 5,000.00 375.00 5,375.00 June 27 2018 : Annual Life Cycle Management I (Schools) 15,000.00 750.00 15,750.00 June 27 2018 : Annual Life Cycle Management II (Schools) 30,000.00 2,375.00 32,375.00 June 27 2018 : Bentley School HVAC Equipment 5,000.00 375.00 5,375.00 June 27 2018 : High School HVAC Upgrades 5,000.00 1,000.00 6,000.00 June 27 2018 : IT Annual Inventory Schools 15,000.00 3,250.00 18,250.00 25 ---PAGE BREAK--- Aggregate Debt Service DATE Issue : Purpose PRINCIPAL INTEREST TOTAL P+I June 27 2018 : Bentley School Roof Replacement 5,000.00 1,125.00 6,125.00 June 27 2018 : Water System Upgrades- Valves & Hydrants 20,000.00 19,162.50 39,162.50 June 27 2018 : Water Distribution System Improvements 20,000.00 22,062.50 42,062.50 June 27 2018 : Outlook Ave Drainage Impovements 5,000.00 125.00 5,125.00 June 27 2018 : Water System Flushing, Valves, Leak & GIS 15,000.00 3,250.00 18,250.00 June 27 2018 : Water System Transmission System 15,000.00 3,250.00 18,250.00 June 27 2018 : Water- Salem Pump Station & Booster Station 5,000.00 375.00 5,375.00 June 27 2018 : Water- Essex St Improvements 5,000.00 3,365.63 8,365.63 June 27 2018 : Sewer Pump Station I 5,000.00 1,000.00 6,000.00 June 27 2018 : Sewer Pump Station II 60,000.00 63,371.88 123,371.88 June 27 2018 : Sewer System Flushing, Valve, Leak & GIS I 5,000.00 2,493.75 7,493.75 June 27 2018 : Sewer System Flushing, Valve, Leak & GIS II 5,000.00 5,125.00 10,125.00 June 27 2018 : Swampscott Rd Sewer Pump Station II 10,000.00 1,000.00 11,000.00 June 27 2018 : Sewer MS4 Compliance/Connection Removal I 5,000.00 125.00 5,125.00 June 27 2018 : Sewer MS4 Compliance/Connection Removal II 10,000.00 10,781.25 20,781.25 June 27 2018 : Canal St Sewer Upgrades Phase I 5,000.00 5,800.00 10,800.00 June 27 2018 : Sewer- Essex St Improvements 5,000.00 3,365.63 8,365.63 Subtotal $1,115,000.00 $277,890.66 $1,392,890.66 Total $7,324,367.00 $3,318,172.00 $10,642,539.00 Aggregate I 6/15/2020 I 9:09 PM Hilltop Securities, Inc. Public Finance 26 ---PAGE BREAK--- Capital Improvement Policies Budget Policies • The city will make all capital purchases and improvements in accordance with the adopted capital improvement program. • The city will develop a multi-year plan for capital improvements and update it annually. • The city will enact an annual capital budget based on the multi-year capital improvement plan. Future capital expenditures necessitated by changes in population, changes in real estate development or changes in economic base will be calculated and included in capital budget projections. • The city will coordinate development of the capital improvement budget with the development of the operating budget. Future operating costs associated with new capital improvement will be projected and included in operating budget forecasts. • The city will use intergovernmental assistance to finance only those capital improvements that are consistent with the capital improvement plan and priorities, and who’s operating and maintenance costs have been included in operating budget forecasts. • The city will maintain all its assets at a level adequate to protect the city’s capital investment and to minimize future maintenance and replacement costs. • The city, as part of its capital planning process, will project its equipment replacement and maintenance needs for the next several years and will update this projection each year. From this projection, a maintenance and replacement schedule will be developed and followed. • The city will identify the estimated costs and potential funding sources for each capital project proposal before it is submitted to the City Council for approval. • The city will determine the least costly financing method for all new projects. 27 ---PAGE BREAK--- Debt Policies • The city will confine long-term borrowing to capital improvements or projects/equipment that cannot be finance from current revenues. • When the city finances capital projects by issuing bonds, it will pay back the bonds within a period not to exceed the expected useful life of the project. • Total net debt service from general obligation debt will not exceed five percent of total annual operating budget as listed on part 1a of the annual tax rate recapitulation as submitted to the Department of Revenue. • Debt will only be issued for capital that is valued greater than $25,000, and has a depreciable life of five or more years. • Total general obligation debt will not exceed that provided in the state statues. • Whenever possible, the city will use special revenue funds, special assessments, or other self-supporting bonds, instead of general obligation bonds. • The city will not use long-term debt for current operations unless otherwise allowed via special legislation. • The city will retire bond anticipation debt within six months after completion of the project. • The city will maintain good communications with bond rating agencies about its financial condition. • The city will follow a policy of full disclosure on every financial report and bond prospectus. Source: “Handbook 4, Financial Performance Goals”, Evaluating Local Government Financial Condition, International City Management Association. 28