Label
DPW041426ARLINGTONSEWERREPAIRSUPPLEMENTAL
Engineering Services
Christy Soncrant (x2851)
Revised
Title
Authorizing the Mayor to apply for and enter into a supplemental loan agreement with the Ohio Water Development Authority in an amount not to exceed $2,000,000 for additional repairs of a sewer failure on Arlington Ave.; authorizing the acceptance and deposit of loan proceeds not to exceed $2,000,000 into the Sanitary Sewer Replacement Fund; authorizing the appropriation and expenditure of said proceeds for the repair; authorizing the appropriation and expenditure of $25,000 from the Sanitary Sewer Replacement Fund for the payment of loan administration fees and miscellaneous project costs; authorizing the Mayor to amend the existing contract with Kokosing Construction Company for said project; authorizing a dedicated source for repayment of said loan and capitalized interest; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
Ordinance 442-25 authorized replacement of the 48-inch sanitary sewer and due to spring weather, additional pumping is necessary, which has increased the cost of the project; therefore, a supplemental loan is being requested to cover the additional cost.
This ordinance authorizes applying for and accepting a supplemental loan from the Ohio Water Development Authority to pay for these additional costs.
Summary
NOW THEREFORE Be it ordained by the Council of the City of Toledo:
SECTION 1. That the Mayor is authorized to apply for and enter into a supplemental loan agreement with the Ohio Water Development Authority in an amount not to exceed $2,000,000 for the Arlington Ave. Sewer Repair project upon terms and conditions approved by the Directors of Law and Transportation.
SECTION 2. That the Mayor is authorized to accept and deposit loan proceeds in an amount not to exceed $2,000,000 into the Sanitary Sewer Replacement Fund Account Code 673L-35000-4UL2925STDSTD for the Arlington Ave. Sewer Repair Project.
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