Title
(First and Final Reading) An ordinance providing for the issuance and sale of a
Sewer Revenue Bond, in an amount not to exceed $21 million, to evidence the City’s obligations under a Water Infrastructure Finance and Innovation Act loan with the
United States Environmental Protection Agency, for costs associated with repairs and
improvements to the electrical distribution system at the Central Treatment Plant;
approving and authorizing execution of the loan agreement and providing for the
disposition of the proceeds of the loan, the delivery of the bond to the United States Environmental Protection Agency, and the payment of costs of issuance of the bond;
delegating the authority to approve the final terms of the bondand declaring an
emergency, making necessary the passage of this ordinance, and becoming
effective immediately.
[Teresa Sedmak, City Treasurer; Andy Cherullo, Director, Finance]