Memorandum

City of Lawrence

Finance Department

TO:

Dave Corliss, City Manager

 

FROM:

Ed Mullins, Finance Director

 

CC:

Dave Wagner, Utilities Director

 

Date:

April 21, 2008

 

RE:

Resolution  6766

West Baldwin Creek sanitary sewer

 

 

         

Please include the following item on the City Commission consent agenda for consideration at the April 29, 2008 meeting:

 

Project Description   There are several projects included in the 2008 Water and Sewer capital improvement budget that will need to be financed with revenue bond proceeds.  One of the projects is the West Baldwin Creek sanitary sewer.  Proposals to design the project were approved by the City Commission on January 29, 2008.  

 

Project Status   The City Commission will be asked to set a bid date of June 3rd during the May 6th meeting.  The projected is expected to be completed by April 2009.

 

Project Details

West Baldwin Creek Sanitary Sewer – The project was included in the 2003 Water Master Plan.  The project includes the purchase of easements, design, and construction of the project.  Design services have already begun and construction is anticipated to begin in the second half of 2008.  Construction will include 15,000 feet of gravity flow sanitary sewer lines.  The lines will flow to pump station 48.   

 

Project Funding   The West Baldwin Creek projected was included in the 2007 CIP at $3,400,000.  The current estimate of the design and construction of the project is over $4,900,000.  The next revenue bond issue is scheduled for the summer of 2008.

 

Action Requested   Adopt Resolution No. 6766 authorizing the issuance of water and sewer revenue bonds, temporary notes, or general obligation bonds in the amount of $4,905,000 for the project.  The additional amount of the bond is intended to cover issuance costs and the debt service reserve requirement.