City of Columbus - File #: 0203-2009

• File #: 0203-2009
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 2/5/2009
• In control: Utilities Committee
• On agenda: 3/9/2009
• Final action: 3/9/2009
• Title: To authorize the Director of Public Utilities to apply for, accept, and enter into twelve (12) Water Supply Revolving Loan Account Agreements with the Ohio Water Development Authority and the Ohio Environmental Protection Agency, during the year 2009, for the construction of water distribution system improvements; and to designate a repayment source for the loans.

Date	Ver.	Action By	Action	Result
3/12/2009	1	CITY CLERK	Attest
3/10/2009	1	MAYOR	Signed
3/9/2009	1	Columbus City Council	Approved	Pass
3/9/2009	1	COUNCIL PRESIDENT PRO-TEM	Signed
3/2/2009	1	Columbus City Council	Read for the First Time
2/17/2009	1	Utilities Drafter	Sent to Clerk's Office for Council
2/13/2009	1	Utilities Drafter	Sent for Approval
2/13/2009	1	Auditor Reviewer	Reviewed and Approved
2/13/2009	1	CITY AUDITOR	Reviewed and Approved
2/13/2009	1	Utilities Drafter	Sent for Approval
2/13/2009	1	CITY ATTORNEY	Reviewed and Approved
2/12/2009	1	Utilities Drafter	Sent for Approval
2/12/2009	1	Finance Reviewer	Reviewed and Approved
2/12/2009	1	Finance Reviewer	Reviewed and Approved
2/12/2009	1	FINANCE DIRECTOR	Reviewed and Approved
2/11/2009	1	Utilities Reviewer	Reviewed and Approved
2/11/2009	1	Utilities Drafter	Sent for Approval
2/11/2009	1	Utilities Reviewer	Sent for Approval
2/11/2009	1	UTILITIES DIRECTOR	Reviewed and Approved
2/9/2009	1	Utilities Reviewer	Reviewed and Approved
2/9/2009	1	Utilities Reviewer	Reviewed and Approved
2/5/2009	1	Utilities Drafter	Sent for Approval

Explanation
1. BACKGROUND

Need: The Ohio EPA requires this legislation which authorizes the Director of Public Utilities to execute twelve (12) Water Supply Revolving Loan Account (WSRLA) loan agreements totaling approximately $194.5 million, for construction of twelve water system projects as identified in Section 1, under the direction of the Division of Power and Water (Water Section). These Capital Improvements Projects are being financed through the Water Supply Revolving Loan Account (WSRLA) program. This loan program is jointly administered by the Ohio EPA's Division of Drinking and Ground Waters, and the Ohio Water Development Authority (OWDA). The WSRLA program provides below-market interest rate loans for municipal water system improvements.

2. FISCAL IMPACT

Budgeted Amount: There is sufficient budget authority in the 2009 Water System Operating Fund for application fee expenditures. These loans will be paid off over a 20-year period from water service rate fees (as dedicated source of repayment). Water service rate fee increases have been projected and planned in anticipation of these projects and loans.

Title

To authorize the Director of Public Utilities to apply for, accept, and enter into twelve (12) Water Supply Revolving Loan Account Agreements with the Ohio Water Development Authority and the Ohio Environmental Protection Agency, during the year 2009, for the construction of water distribution system improvements; and to designate a repayment source for the loans.

Body

WHEREAS, in 2009 the Department of Public Utilities is scheduled to prepare loan applications for submittal to the Ohio EPA under the Water Supply Revolving Loan Account (WSRLA) program to finance the construction of twelve Capital Improvement Projects under the Division of Power and Water (Water Section) the financial assistance for which will be of help in reducing total project costs to the City's water rate payers; and

WHEREAS, the low-interes...