City of Columbus - File #: 0431-2011

• File #: 0431-2011
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 3/9/2011
• In control: Public Utilities Committee
• On agenda: 4/11/2011
• Final action: 4/13/2011
• Title: To authorize the Director of Public Utilities to apply for, accept, and enter into an Ohio Water Pollution Control Loan Fund Loan Agreement with the Ohio Water Development Authority and the Ohio Environmental Protection Agency to assist in the financing of the OARS Phase 2 project, for the Division of Sewerage and Drainage; and to designate a dedicated repayment source for the loan. ($109,000,000.00)

Date	Ver.	Action By	Action	Result
4/13/2011	1	CITY CLERK	Attest
4/12/2011	1	MAYOR	Signed
4/11/2011	1	Columbus City Council	Approved	Pass
4/11/2011	1	COUNCIL PRESIDENT	Signed
4/4/2011	1	Columbus City Council	Read for the First Time
3/22/2011	1	CITY ATTORNEY	Reviewed and Approved
3/22/2011	1	Utilities Drafter	Sent to Clerk's Office for Council
3/21/2011	1	Auditor Reviewer	Reviewed and Approved
3/21/2011	1	CITY AUDITOR	Reviewed and Approved
3/21/2011	1	Utilities Drafter	Sent for Approval
3/18/2011	1	Finance Reviewer	Reviewed and Approved
3/18/2011	1	Finance Reviewer	Reviewed and Approved
3/18/2011	1	FINANCE DIRECTOR	Reviewed and Approved
3/18/2011	1	Utilities Drafter	Sent for Approval
3/16/2011	1	Utilities Reviewer	Sent for Approval
3/16/2011	1	UTILITIES DIRECTOR	Reviewed and Approved
3/16/2011	1	Utilities Drafter	Sent for Approval
3/15/2011	1	Utilities Drafter	Sent for Approval
3/14/2011	1	Utilities Reviewer	Reviewed and Approved
3/11/2011	1	Utilities Reviewer	Reviewed and Approved
3/10/2011	1	Utilities Drafter	Sent for Approval
3/10/2011	1	Utilities Reviewer	Reviewed and Approved
3/10/2011	1	Utilities Drafter	Sent for Approval

Explanation
1. BACKGROUND

Need: The Ohio Environmental Protection Agency (Ohio EPA), as part of the Water Pollution Control Loan Fund (WPCLF) requires this legislation authorizing the Director of Public Utilities to enter into a WPCLF loan agreement, for construction of the Olentangy Scioto Interceptor Sewer Augmentation Relief Sewer (OARS), Phase 2 project (CIP No. 650704-100002) as described in Section 1 of this Ordinance, under the direction of the Division of Sewerage and Drainage.

It is anticipated that 100% of the construction costs for this project will be financed through the Ohio Water Pollution Control Loan Fund program in 2011, with the engineering services costs being paid through City bond money. This loan program is jointly administered by the Ohio EPA's Division of Environmental and Financial Assistance (DEFA), and the Ohio Water Development Authority (OWDA). The WPCLF program provides below market interest rate loans for municipal wastewater treatment improvements.

2. FISCAL IMPACT

Budgeted Amount: There is sufficient budget authority in the 2011 Water & Sewer Systems Operating Funds for application fee expenditures. This loan, in the amount of approximately $109 million, will be paid off over a 20-year period from sewerage system user rate fees (as dedicated source of repayment). Sewerage system rate increases have been projected and planned in anticipation of this project and loan.

Title

To authorize the Director of Public Utilities to apply for, accept, and enter into an Ohio Water Pollution Control Loan Fund Loan Agreement with the Ohio Water Development Authority and the Ohio Environmental Protection Agency to assist in the financing of the OARS Phase 2 project, for the Division of Sewerage and Drainage; and to designate a dedicated repayment source for the loan. ($109,000,000.00)


Body

WHEREAS, in 2011 the Department of Public Utilities is scheduled to submit a loan application to the Ohio EPA under t...