Label
DPU102423DISTRIBUTIONSYSTEMIMPROVEMENTS
Division of Water Treatment
J. Goetz (x2399)
Revised
Title
Authorizing the mayor to apply for and enter into loan agreements with the Ohio Water Development Authority (OWDA), and to accept, deposit, appropriate, and expend loan proceeds in an amount not to exceed $5,500,000 into the Water Replacement Loan Fund for the Distribution System Improvements Project design; appropriating $20,000 from the Water Replacement Fund for the payment of loan administrative fees and miscellaneous project costs; 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 design is for the purpose of developing detailed design and bidding documents for the construction of four elevated storage tanks, a pump station and associated ancillary equipment in the distribution system. To finance the design of the project, the Division of Water Treatment desires to secure funding from the OWDA Fresh Water Loan Program. Prior to loan approval, the OWDA 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 Ohio Water Development Authority and to accept and deposit loan proceeds of an amount not to exceed $5,500,000 into the Water Replacement Loan Fund, Account Code 663L-32000-4UL5723STDSTD, for the Distribution System Improvements Project.
SECTION 2. That an amount not to exceed $5,500,000 is appropriated from the unappropriated loan proceeds in the Water Replacement Loan Fund into Account Code 663L-32000-4UL5723STDSTD; and further authori...
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