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Item Title:
ASSET REPLACEMENT FUND
Item Detail:
21. WRITTEN MOTION, Councillors Lopes, Abreu, Rebeiro, Winterson, Bousquet, Council President Morad, Councillors Oliveira, Coelho, Carney and Martins, requesting, that Mayor Mitchell consider the establishment of an "Asset Replacement Fund", said fund would serve as a cash funded capital account, for the sole purpose of planning and financing ongoing maintenance of government owned facilities; and further, the fund would be appropriated as part of the City’s general budget, further requesting, that Mayor Mitchell amend the existing financial policies of the City of New Bedford to include the addition of an "Asset Replacement Fund."
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