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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 Filtration System Rehabilitation 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 Filtration System Rehabilitation Project.
Fiscal Note: The aggregate principal amount of debt for the Project is expected not to exceed $19,000,000.00. Funding for the project 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 Principle Forgiveness earned.
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