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Type:
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Council Consent
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Status:
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Agenda Ready
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On agenda:
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1/21/2025
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Final action:
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Title:
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Consideration of Resolution No. 25-1004 authorizing various improvements to the Water and Sewer System of the City and setting forth the intent to issue Water and Sewer Revenue Bonds.
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Focus Area: Economy
Staff Contact: Jamie Robichaud/Mary Jaeger
Subject: Consideration of Resolution No. 25-1004 authorizing various improvements to the Water and Sewer System of the City and setting forth the intent to issue Water and Sewer Revenue Bonds.
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title:
title
Consideration of Resolution No. 25-1004 authorizing various improvements to the Water and Sewer System of the City and setting forth the intent to issue Water and Sewer Revenue Bonds.
Body
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Summary:
This Resolution (Attachment A) declares the City’s intent to proceed with the design and construction of the specified projects, and further authorizes the City Clerk to give public notice of the City’s intent to finance all or a portion of the costs of the projects through the issuance of Water and Sewer Revenue Bonds.
The projects listed below are those that staff is presenting to Council for consideration and authorization. The projects will also utilize cash funding.
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Project # |
Project |
Est. Bond |
Total Project |
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1-C-013-XX |
Cedar CreekWWTP Exp.Phase II (BNR) |
246,000 |
35,136,700 |
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1-C-025-XX |
Cedar Creek WWTP Solids Handling |
9,862,000 |
34,920,000 |
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1-C-004-XX |
Indian Creek Trunk Main Rehabilitation |
2,893,800 |
14,872,400 |
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1-C-019-XX |
Super Critical Water Oxidization Pilot |
2,154,000 |
6,722,000 |
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5-R-000-XX |
Waterline Rehabilitation |
2,704,350 |
30,780,000 |
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1-C-011-24 |
West Cedar Creek Sewer Interceptor |
26,474,500 |
47,092,300 |
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5-C-026-20 |
WTP2 Chemical Modification Imprv. |
1,665,056 |
4,875,000 |
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5-C-028-20 |
WTP2 Electrical Modification Imprv. |
7,131,000 |
14,146,000 |
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5-C-034-XX |
WTP2 Membrane Module Replacement |
2,743,750 |
5,360,750 |
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Total |
$55,874,456 |
$193,905,150 |
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Contingency/bond financing costs |
8,381,168 |
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Maximum principal amount of bonds |
$64,255,624 |
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Financial Impact:
Adopting this Resolution documents the City’s intent to undertake the projects and issue the bonds. An amount not to exceed $64,255,624 of Water and Sewer Revenue Bonds may be issued to finance these costs, including bond reserves and issuance costs.
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Action Needed:
Approval of Resolution No. 25-1004 authorizing various improvements to the Water and Sewer System of the City and setting forth the intent to issue Water and Sewer Revenue Bonds for the purpose of paying a portion of the costs of the projects.
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Attachment(s):
A: Resolution 25-1004
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