Explanation
1. BACKGROUND
A. Need: This legislation is necessary for the City to pay the loan application fees for two loan agreements totaling $84,037,960. These two General Engineering Section projects (identified in Section 1.) are scheduled for approval for financing through the Ohio Water Pollution Control Loan Fund (WPCLF). This loan program is jointly administered by Ohio EPA's Division of Environmental and Financial Assistance, and the Ohio Water Development Authority (OWDA). The WPCLF provides below-market interest rate loans for municipal wastewater treatment improvements.
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B. Emergency Designation: The City is required to pay the loan application fees upon execution of the loan agreements,
scheduled for approval at the OWDA January 29, 2004 board meeting. Fund Payment Requests cannot be processed until the
fees are paid.
2. FISCAL IMPACT
Budgeted Amount: There is sufficient budget authority in the 2004 Sewer System Operating Fund for application fee expenditures.
Title
To authorize the Director of Public Utilities to pay Water Pollution Control Loan Fund application fees to the Ohio Water Development Authority, for two Sewerage and Drainage Division projects; to authorize the expenditure of $294,133.00; and to declare an emergency. ($294,133.00)
Body
WHEREAS, two Sewerage and Drainage Division projects have been scheduled for financing through the Ohio Water Development Authority on January 29, 2004, which financial asistance will help to reduce the total project costs to the City's sewerage customers; and
WHEREAS, it is necessary to authorize the Director of Public Utilities to pay the requisite loan appliction fees to the Ohio Water Development Authority payable upon the delivery of the executed loan agreements; and
WHEREAS, the loan application fees will need to be paid in early February upon the delivery of the executed loan agreements, and therefore it is immediately necessary to authorize the Director of Public Utilities to pay the application fees on the earliest practicable date, in order to process fund payment requests for engineering and construction costs, and for the immediate preservation of the public peace, health, property and safety; Now Therefore
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of Public Utilities be, and hereby is, authorized to pay the Water Pollution Control Loan Fund application fees to the Ohio Water Development Authority, for the following Sewerage and Drainage Division projects:
A. Southerly Wastewater Treatment Plant, New Headworks, Phase 2, WPCLF No. CS392276-02, CIP No. 650352, (application fee-$231,381.00)
B. Jackson Pike Wastewater Treatment Plant, Sludge Handling & Dewatering, Phase 3, WPCLF No. CS392244-03, CIP No. 650246, (application fee-$62,752.00)
Section 2. That the expenditure of $294,133.00 or as much thereof as may be needed, be and the same hereby is authorized from the Sewer System Operating Fund, Fund 650, Division 60-05, OCA Code 651001, Object Level One 03, Object Level Three 3390, to pay the cost of the Water Pollution Control Loan Fund application fees to the Ohio Water Development Authority.
Section 3. That for the reasons stated in the preamble hereto, which is made a part hereof, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.