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CITY COMMISSION AGENDA ITEM |
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Department: |
Finance |
Commission Meeting Date: October 3, 2017 |
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Staff Contact: |
Bryan Kidney, Director |
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Recommendations/Options/Action Requested: |
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Adopt Resolution No. 7225, declaring it necessary to improve the water and sewage system of the City of Lawrence, Kansas; to authorize the issuance of water and sewage system revenue bonds for the purpose of paying the costs thereof and related bond reserves and financing costs; and providing for the giving of notice of said intention |
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Executive Summary: |
Staff proposes revenue bond financing for water and wastewater projects included in the capital improvement master plans included in the adopted 2018-2022 CIP and 2018 operational budgets.
Staff estimates the following 2018 water and wastewater projects will cost $16,000,000.
1. General improvements to Clinton and Kaw water treatment facilities and to raw water systems 2. General improvements to water storage, pumping stations and automated metering infrastructure 3. Watermain assessment, relocation, rehabilitation, replacement and extension 4. Capital project and utility billing management 5. General improvements to Kansas River and Wakarusa River wastewater treatment facilities 6. General improvements to wastewater containment and pumping stations 7. Rapid inflow/infiltration reduction program 8. Sanitary sewer/manhole assessment, cured in place piping (CIPP), relocation, rehabilitation, replacement and extension
In order to finance these costs a revenue bond for $18,000,000 will be necessary. The Resolution must be published and a 15-day protest period must expire prior to the execution of any construction agreements to begin the projects.
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Strategic Plan Critical Success Factor |
Effective Governance and Professional Administration Sound Fiscal Stewardship Commitment to Core Services |
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Fiscal Impact (Amount/Source): |
Repayment of bonds are included in the 2018-2022 Capital Improvement Program and 2018 Budget. The repayments are included within the balanced rate model. |
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Attachments: |
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Reviewed By: (for CMO use only) |
☐TM ☐DS ☒CT ☐BM |