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Type:
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Council Consent
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Status:
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Passed
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On agenda:
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1/9/2024
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Final action:
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1/9/2024
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Title:
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Consideration of Resolution No. 24-1002 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: Mary Jaeger/Briana Burrichter
Subject: Consideration of Resolution No. 24-1002 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. 24-1002 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. Amt. Bonds $ |
Total Project $ |
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5-C-029-XX |
151st and Blackbob Waterline |
315,000 |
315,000 |
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5-C-025-23 |
Black Bob #2 Recoating |
1,220,000 |
1,470,000 |
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5-C-013-XX |
Bulk Water Fill Stations |
350,000 |
735,000 |
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5-C-030-XX |
Fire Hydrant Replacement |
577,500 |
1,506,000 |
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1-C-020-15 |
Lift Station Replacements |
1,867,900 |
5,724,700 |
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1-R-100-XX |
Neighborhood Sanitary Sewer |
3,508,600 |
15,118,400 |
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5-C-002-20 |
Remote Facilities Improvements |
550,000 |
550,000 |
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1-C-026-XX |
Sanitary Sewer Manhole Lining/Rehab |
900,000 |
900,000 |
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1-R-000-XX |
Sanitary Sewer Rehabilitation (I&I) |
2,868,000 |
10,000,000 |
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5-C-015-XX |
Water Meter Replacement |
711,500 |
1,778,750 |
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5-R-000-XX |
Waterline Rehabilitation |
5,426,300 |
26,112,600 |
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5-C-010-XX |
Watermain Connectivity Project |
620,700 |
1,116,700 |
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1-C-011-XX |
West Cedar Creek Sewer Interceptor |
7,090,100 |
44,442,800 |
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5-C-026-20 |
WTP2: Chemical Feed Modifications |
2,699,000 |
2,789,000 |
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5-C-028-20 |
WTP2: Electrical Modification |
10,896,000 |
11,166,000 |
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5-C-034-XX |
WTP2: Membrane Module Replacement |
1,955,000 |
4,136,750 |
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5-C-050-XX |
WTP2: Residuals Handling Expansion |
633,000 |
1,265,000 |
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Total |
$42,188,600 |
$129,126,700 |
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Plus estimated financing reserves and related costs |
6,328,290 |
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Maximum principal amount of bonds |
$48,516,890 |
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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 $48,516,890 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. 24-1002 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 24-1002
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