City of Racine - File #: 0226-23

• File #: 0226-23
• Version: B
• Name: Subject: Resolution Regarding Declaration of Official Intent to Reimburse Costs Attributed to 2024 Water Main Replacement Project Recommendation: To Approve with Referral to the Finance & Personnel Committee Fiscal Note: The aggregate principal amou
• Type: Communication
• Status: Passed
• File created: 3/6/2023
• In control: Finance and Personnel Committee
• On agenda: 4/17/2023
• Final action: 4/17/2023
• Title: Subject: Communication sponsored by Alder Taft, on behalf of the Waterworks Commission submitting a Resolution Regarding Declaration of Official Intent to Reimburse Costs Attributed to the 2024 Water Main Replacement Project. Recommendation of the Finance and Personnel Committee on 04-10-2023: That the Waterworks Commission be allowed Consideration and Approval to submit the Resolution Regarding Declaration of Official Intent to Reimburse Costs Attributed to the 2024 Water Main Replacement Project. Fiscal Note: The aggregate principal amount of debt for the Project is expected not to exceed $9,000,000.00. Funding for the project is to be financed through the FY 2024 WDNR Safe Drinking Water Loan Program at an anticipated rate of 2.5%, with the balance reduced by eligible Principal Forgiveness earned.

Date	Ver.	Action By	Action	Result
4/17/2023	B	Common Council	Approved as Presented	Pass
4/10/2023	B	Finance and Personnel Committee	Recommended For Approval
3/21/2023	B	Waterworks Commission	Referred	Pass

Title

Subject: Communication sponsored by Alder Taft, on behalf of the Waterworks Commission submitting a Resolution Regarding Declaration of Official Intent to Reimburse Costs Attributed to the 2024 Water Main Replacement Project.

Recommendation of the Finance and Personnel Committee on 04-10-2023: That the Waterworks Commission be allowed Consideration and Approval to submit the Resolution Regarding Declaration of Official Intent to Reimburse Costs Attributed to the 2024 Water Main Replacement Project.

Fiscal Note: The aggregate principal amount of debt for the Project is expected not to exceed $9,000,000.00. Funding for the project is to be financed through the FY 2024 WDNR Safe Drinking Water Loan Program at an anticipated rate of 2.5%, with the balance reduced by eligible Principal Forgiveness earned.