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File #: 0220-24    Version: A Name: Subject: Communication sponsored by Alder McCarthy Requesting Approval of a Resolution Regarding Declaration of Official Intent to Reimburse Costs Attributed to 2025 Water Main Replacement Project Recommendation of the Waterworks Commission on 03/19/20
Type: Communication Status: Passed
File created: 3/8/2024 In control: Finance and Personnel Committee
On agenda: 4/15/2024 Final action: 4/15/2024
Title: Subject: Communication sponsored by Alder McCarthy, on behalf of the Racine Waterworks Utility Director, requesting approval of a resolution regarding declaration of official intent to reimburse costs attributed to the 2025 Water Main Replacement Project. Recommendation of the Finance and Personnel Committee on 04-08-2024:: That the Racine Waterworks Utility Director be granted approval for a resolution regarding declaration of official intent to reimburse costs attributed to the 2025 Water Main Replacement Project. Recommendation of the Waterworks Commission on 03/19/2024: To approve with a referral to the Finance & Personnel Committee. Fiscal Note: The aggregate principal amount of debt for the project is expected not to exceed $4,500,000 with the balance reduced by eligible Principal Forgiveness earned. Funding for the Project to be financed through the FY 2025 WDNR Safe Drinking Water Loan Program.
Attachments: 1. draft comfort resolution - water main replacement 2025, 2. #0220-24 Resolution

Title

Subject: Communication sponsored by Alder McCarthy, on behalf of the Racine Waterworks Utility Director, requesting approval of a resolution regarding declaration of official intent to reimburse costs attributed to the 2025 Water Main Replacement Project.

 

Recommendation of the Finance and Personnel Committee on 04-08-2024:: That the Racine Waterworks Utility Director be granted approval for a resolution regarding declaration of official intent to reimburse costs attributed to the 2025 Water Main Replacement Project.

 

Recommendation of the Waterworks Commission on 03/19/2024: To approve with a referral to the Finance & Personnel Committee.

 

Fiscal Note: The aggregate principal amount of debt for the project is expected not to exceed $4,500,000 with the balance reduced by eligible Principal Forgiveness earned. Funding for the Project to be financed through the FY 2025 WDNR Safe Drinking Water Loan Program.