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File #: 1611-2018    Version: 1
Type: Ordinance Status: Passed
File created: 6/4/2018 In control: Public Utilities Committee
On agenda: 7/16/2018 Final action: 7/18/2018
Title: To authorize the Director of Public Utilities to apply for, accept, and enter into up to twenty-one (21) Water Supply Revolving Loan Account Loan Agreements with the Ohio Environmental Protection Agency and the Ohio Water Development Authority, during Program Year 2019, for the construction of water distribution and supply system improvements; and to designate a repayment source for the loans.

Explanation
1. BACKGROUND: Ohio EPA requires this legislation which authorizes the Director of Public Utilities to execute up to twenty-one (21) Water Supply Revolving Loan Account (WSRLA) Loan Agreements totaling approximately $154 million, for construction of up to twenty-one (21) water system projects as identified in Section 1, under the direction of the Division of Water (DOW). These Capital Improvements Projects have been nominated and await OEPA's approval for financing through the Water Supply Revolving Loan Account (WSRLA) program in Program Year 2019 which runs from July 1, 2018 through June 30, 2019. 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 WSRLA program provides below-market interest rate loans for municipal water system improvements.

2. FISCAL IMPACT: All Loan Administration Fees will be rolled into each loan upon execution of the Loan Agreements. These WSRLA loans will be paid off over a 20-year period from water service rates (the dedicated source of repayment). Water service 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 twenty-one (21) Water Supply Revolving Loan Account Loan Agreements with the Ohio Environmental Protection Agency and the Ohio Water Development Authority, during Program Year 2019, for the construction of water distribution and supply system improvements; and to designate a repayment source for the loans.

Body

WHEREAS, in Program Year 2019 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 up to twenty-one Capital Improvement Projects under the direction of the Division of Water, the financial assi...

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