Label
DPU100725DISTRIBUTIONSYSTEMIMPROVEMENTLOAN
Division of Water Treatment
J. Goetz (x2399)
Title
Authorizing the mayor to apply for and enter into loan agreements with the Water Supply Revolving Loan Account (WSRLA), and to accept, deposit, appropriate, and expend loan proceeds in an amount not to exceed $75,000,000 into the Water Replacement Loan Fund for the Distribution System Improvements Project; authorizing various adjustments and transfers of expenses to comply with the loan agreements; authorizing a dedicated source for repayment of said loans; authorizing the mayor to accept bids and execute necessary agreements related to the project; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The Distribution System Improvements Project consists of the construction of four (4) new elevated storage tanks with each holding two (2) million gallons of finished water as well as the construction of a new booster pumping station and boundary control structures. These improvements will work together to create a new boosted pressure zone which will provide improved water service to the western portion of the Toledo distribution system as well as improve the resiliency of the system to reduce the risk of depressurization events. To finance construction of the project, the Division of Water Treatment desires to secure funding from the WSRLA Loan Program. Prior to loan approval, the WSRLA requires an ordinance be passed authorizing the loan application, acceptance, and the execution of agreement as well as designating a dedicated repayment source for the loan funds.
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 agreements with the Water Supply Revolving Loan Account as administered by the OEPA Division of Drinking and Groundwater and the OEPA Division of Environmental and Financial Assistance and to accept and deposit loan proceeds of an amount not to ...
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