Label
DPU100918PaineandFassett
Toledo Waterways Initiative
Julie Cousino (x3671)
(Revised)
Title
Authorizing the mayor to apply for, enter into agreements, accept and deposit loan proceeds from the Ohio Public Works Commission (OPWC) into the Sanitary Sewer Replacement Loan Fund for the Toledo Waterways Initiative Paine and Fassett Regulators Modification Project; authorizing the appropriation and expenditure of Loan proceeds from the Sanitary Sewer Replacement Loan Fund in an amount not to exceed $80,791; authorizing a dedicated source for repayment of said loan; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
This ordinance authorizes the mayor to apply for, enter into agreements, accept and deposit up to an $80,791 loan from the OPWC for the TWI Paine and Fassett Regulators Modification Project. It further dedicates a source of funds for repayment of the loan. Ordinance 168-18 authorized the mayor to apply for a Water Pollution Control Fund loan and OPWC grant for said project. The OPWC has since had to substitute loan funding for some of the grant funding, necessitating this ordinance to accept the loan funding. This project is mandated by the Consent Decree between the city and USEPA as part of Toledo Waterways Initiative (TWI) Long-Term Control Plan (LTCP) to reduce CSOs to the Maumee River (Paine Regulator Modifications C/CPs; Fassett Regulator Modifications C/CPs).
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the mayor is authorized to apply for, enter into agreements and accept a loan from the OPWC and deposit said loan proceeds in an amount not to exceed $80,791 into the Sanitary Sewer Replacement Fund, Account Code 673L-36000-4XL0918STDSTD (Paine and Fassett Regulators Modification Project).
SECTION 2. That an amount not to exceed $80,791 is appropriated from the unappropriated loan proceeds in the Sanitary Sewer Replacement Fund into Account Code 673L-36000-4XL0918STDSTD (Paine and Fassett Regulators Modification Project); and further authorizing the expenditure of same.
SECTION 3. That the disappropriation of any remaining budget to fund balance at project closeout is authorized.
SECTION 4. That the dedicated source of repayment for said loan shall be the unappropriated balance of the Sanitary Sewer Replacement Fund provided, however, that any loans for this project shall be subordinate to all of the city’s sanitary sewer revenue bonds.
SECTION 5. That the Finance Director is authorized to issue her warrant or warrants against the above account codes listed in Sections 1 and 2 in amounts not to exceed $80,791 in payment of the obligations incurred pursuant to the agreements authorized in Section 1 above, upon presentation of the proper voucher or vouchers.
SECTION 6. That this ordinance is declared to be an emergency measure and shall take effect and be in force from and after its passage. The reason for the emergency lies in the fact that this ordinance is necessary for the immediate preservation of the public peace, health, safety and property, and for the further reason that this ordinance must be immediately effective in order to permit timely completion of the Paine and Fassett Regulators modification Project.
Vote on emergency clause: yeas _____, nays _____.
Passed: _________________, as an emergency measure: yeas _____, nays _____.
Attest: ________________________ __________________________________
Clerk of Council President of Council
Approved: _____________________ __________________________________
Mayor
I hereby certify that the above is a true and correct copy of an Ordinance passed by Council ________________________.
Attest: ________________________
Clerk of Council