Explanation
1. BACKGROUND
Need: The Ohio EPA requires this legislation which authorizes the Director of Public Utilities to execute six (6) WPCLF supplemental loan agreements, for the additional financing of six Division of Sewerage & Drainage projects. These Capital Improvements Projects, as identified in Section 1., are being financed through the Ohio Water Pollution Control Loan Fund (WPCLF). This loan program is jointly administered by the 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.
2. EMERGENCY DESIGNATION: WPCLF supplemental loan applications are now being processed for these projects. This authorizing legislation is a requirement for loan approval and must be submitted to the Ohio EPA as a part of each loan application prior to the OWDA board meeting on May 25, 2006.
3. FISCAL IMPACT N/A
Title
To authorize the Director of Public Utilities to execute six (6) Water Pollution Control Loan Fund Supplemental Loan Agreements with the Ohio Water Development Authority and the Ohio Environmental Protection Agency, for the financing of six Division of Sewerage and Drainage projects, and to declare an emergency.
Body
WHEREAS, the City is in the process of submitting supplemental loan applications to the Ohio EPA under the Ohio Water Pollution Control Loan Fund (WPCLF),to finance additional costs for six (6) Division of Sewerage and Drainage projects, which assistance will be of help in reducing total project costs to the City's sewerage customers; and
WHEREAS, the City is required to submit to the Ohio EPA a certified copy of the approved City Council legislation which authorizes the Director of the Public Utilities Department to execute the WPCLF supplemental loan agreements; and
WHEREAS, this legislation must be approved and a certified copy must be submi...
Click here for full text