Finance Committee - 02/05/2020 Page 14
Phase Ill and there’s always something happening is a bonded project. This is subject to approval of the bond
by the Board of Aldermen. Bond means it is borrowed money.
Alderwoman Lu
So | guess what | was confused about is if the project is already started, then the bond has already been
approved but what needs to be approved, why does it say “pending bond approval” $135,000.00 added to the
bond?
Mayor Donchess
Well the project hasn’t started in the sense that this work is a change order, meaning it is additional work
beyond what has already been authorized. So this is subject to a bond approval that covers a bunch of stuff
out at the landfill by the Board of Aldermen. So this part of the project has not begun and won’t until the money
is available.
Alderwoman Lu
| see. OK, thank you.
David Fredette, City Treasurer
Mr. Mayor | think I’m not sure but this might have been given to purchase a while ago because the Board of
Aldermen approved the bond in December for the landfill and | think this was part of that bond. So maybe they
wrote this up before the bond ...
Mayor Donchess
So David is thinking that we’ve already approved the bond which | think, thinking about it, our public hearings
aren’t on this so this is already approved.
Alderwoman Lu
It was a detail | was confused about.
Mr. Caggiano
| should point out that Memo was originally written in September. So that’s why.
Mayor Donchess
It's dated September, we should have noticed that.
MOTION CARRIED
UNFINISHED BUSINESS — None
NEW BUSINESS — RESOLUTIONS - None
RECORD OF EXPENDITURES
MOTION BY ALDERMAN HARRIOTT-GATHRIGHT THAT THE FINANCE COMMITTEE HAS COMPLIED
WITH THE CITY CHARTER AND ORDINANCES PERTAINING TO THE RECORD OF EXPENDITURES
FOR THE PERIOD FROM JANUARY 10, 2020 TO JANUARY 31, 2020
MOTION CARRIED
