City Council Committee On Ways And Means Hearing On Dockets #0590, #0724, #0725

Message and order authorizing the issuance of refunding bonds in a principal amount not to exceed Three Hundred Fifty Million Dollars ($350,000,000). The current conditions in the municipal bond market appear to be favorable for the City to potentially realize significant savings in debt service costs by refunding certain of its outstanding general obligation bonds.

Message and order for your approval an Order authorizing the Collector-Treasurer to enter into a contract under the provisions of General Law Chapter 44, Section 53F, by and between the City of Boston and Citizens, for the provision of Banking Services as more fully described in the attached form of compensating balance agreement.

Message and order for your approval an Order authorizing the Collector-Treasurer to enter into a contract under the provisions of General Law Chapter 44, Section 53F, by and between the City of Boston and J.P. Morgan Chase Bank, N.A., for the provision of Banking Services.

These matters were sponsored by Mayor Michelle Wu and were referred to the Committee on March 5, 2025 (Docket #0590) and April 2, 2025 (Dockets #0724-0725).

NOTICE: The Boston City Council may have a quorum in attendance due to standing committees of the City Council consisting of both voting and non-voting members. However, members attending this duly posted meeting are participating and deliberating only in conjunction with the business of the standing committee.

Attendance

In accordance with Chapter 2 of the Acts of 2025 modifying certain requirements of the Open Meeting Law and relieving public bodies of certain requirements, including the requirement that public bodies conduct its meetings in a public place that is open and physically accessible to the public, the City Council will be conducting this hearing remotely. This enables the City Council to carry out its responsibilities while ensuring public access to its deliberations through adequate, alternative means. The public may watch this hearing via live stream at boston.gov/city-council-tv and on Xfinity 8/RCN 82/Fios 964. This hearing will be recorded.

Public Testimony

Members of the public wishing to testify virtually via videoconference should email the staff contact for a link and instructions to do so. Written comments may be sent to the Committee or staff email (below) and will be made a part of the record and available to all Councilors. 

Staff Contact: Karishma Chouhan

Mail Address:  Dockets #0590, #0724, #0725 City Council, City Hall, 5th Floor, Boston, MA 02201

Committee Email:  ccc.wm@boston.gov  

Staff Email:  karishma.chouhan@boston.gov | Staff Telephone:  617-635-3040

Broadcast Live on Xfinity 8/RCN 82/ Fios 964 and streamed at: boston.gov/city-council-tv