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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 42" Phase 4 Water Main Replacement Project.
Recommendation of the Finance and Personnel Committee on 04-29-2024: That the Racine Waterworks Utility Director be granted approval of a resolution regarding declaration of official intent to reimburse costs attributed to the 42" Phase 4 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 $5,000,000 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.
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