File #: RES 23-059    Version: 1 Name:
Type: Resolution Status: Passed
File created: 6/27/2023 In control: City Council
On agenda: 7/11/2023 Final action: 7/11/2023
Title: Action on Resolution 23-059, a Resolution relating to the Improvement of Drinking Water Facilities; Authorizing and Directing the Issuance and Sale of a Taxable Revenue Bond to pay the cost of said improvements; Defining the Terms and Manner of Payment of the Bond and the Security Thereof and Approving the Form of Loan Agreement; Pledging Certain Revenues to Secure the Payment of the Revenue Bond and Creating Special Funds and Accounts for the Administration of Funds for Operation of the System and Retirement of the Revenue Bond.
Attachments: 1. Memo, 2. Resolution

Title

Action on Resolution 23-059, a Resolution relating to the Improvement of Drinking Water Facilities; Authorizing and Directing the Issuance and Sale of a Taxable Revenue Bond to pay the cost of said improvements; Defining the Terms and Manner of Payment of the Bond and the Security Thereof and Approving the Form of Loan Agreement; Pledging Certain Revenues to Secure the Payment of the Revenue Bond and Creating Special Funds and Accounts for the Administration of Funds for Operation of the System and Retirement of the Revenue Bond.

 

Body

Summary:

The Lead Water Service Line Replacement Project targets the remaining 48 known lead service lines remaining in the BMU water system.  In the past, BMU has completed numerous projects with property owners to replace lead service lines and feels fortunate only 48 known lead service lines remain.  An update to the Federal Lead and Copper Rule is anticipated in 2024 and sampling protocols are expected to change.  This reporting change could impact acceptable lead exposure levels. Receiving this funding to complete the project is consistent with increased State and Federal emphasis to reduce lead exposure in drinking water.

 

Recommendation

Recommendation:

Staff recommends approval.

 

Body2

Attachments:

Memo

Resolution