City of Columbus - File #: 0936-2009

• File #: 0936-2009
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 6/22/2009
• In control: Utilities Committee
• On agenda: 7/13/2009
• Final action: 7/14/2009
• Title: To authorize the Director of Public Utilities to apply for, accept, and enter into up to eleven (11) Ohio Water Development Authority Local Government Agency Loan Program loan agreements, for the financing of eleven Division of Power and Water construction projects; to designate a dedicated repayment source for the loans; and to declare an emergency.

Date	Ver.	Action By	Action	Result
7/14/2009	1	MAYOR	Signed
7/14/2009	1	CITY CLERK	Attest
7/13/2009	1	Columbus City Council	Approved	Pass
7/13/2009	1	COUNCIL PRESIDENT	Signed
6/26/2009	1	Utilities Reviewer	Reviewed and Approved
6/26/2009	1	UTILITIES DIRECTOR	Reviewed and Approved
6/26/2009	1	Utilities Drafter	Sent for Approval
6/26/2009	1	Finance Reviewer	Reviewed and Approved
6/26/2009	1	Finance Reviewer	Reviewed and Approved
6/26/2009	1	FINANCE DIRECTOR	Reviewed and Approved
6/26/2009	1	Utilities Drafter	Sent for Approval
6/26/2009	1	Auditor Reviewer	Reviewed and Approved
6/26/2009	1	CITY AUDITOR	Reviewed and Approved
6/26/2009	1	Utilities Drafter	Sent for Approval
6/26/2009	1	CITY ATTORNEY	Reviewed and Approved
6/26/2009	1	Utilities Drafter	Sent to Clerk's Office for Council
6/25/2009	1	Utilities Drafter	Sent for Approval
6/24/2009	1	Utilities Reviewer	Reviewed and Approved
6/23/2009	1	Utilities Drafter	Sent for Approval

Explanation
1. BACKGROUND

Need: The Ohio Water Development Authority (OWDA) requires this legislation which authorizes the Director of Public Utilities to apply for and execute up to eleven (11) OWDA Local Government Agency Loan Program loan agreements totaling approximately $29.5 million, for construction of eleven Water projects as identified in Section 1. under the direction of the Division of Power and Water. These Capital Improvements Projects are being financed through the OWDA Local Government Agency Loan Program. This loan program is administered by the OWDA. The loan program provides low interest rate loans for municipal water utility capital improvements.

2. EMERGENCY DESIGNATION: The loan applications are now being prepared for these projects. This authorizing legislation is a requirement for loan approval and must be submitted to the OWDA as a part of each loan application. One of these loan agreements is scheduled for approval at the OWDA board meeting on July 30, 2009, therefore emergency designation is needed.

3. 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 system fees (dedicated source of repayment). Water rate 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 up to eleven (11) Ohio Water Development Authority Local Government Agency Loan Program loan agreements, for the financing of eleven Division of Power and Water construction projects; to designate a dedicated repayment source for the loans; and to declare an emergency.


Body

WHEREAS, in 2009 the Department of Public Utilities is scheduled to prepare loan applications for approxminately $29.5 million in financing, for submittal to the Ohio Water Development Authority (OW...