File #: RES 24-067    Version: 1 Name:
Type: Resolution Status: Passed
File created: 7/11/2024 In control: City Council
On agenda: 7/23/2024 Final action: 7/23/2024
Title: Action on Resolution 24-067, a Resolution Relating to the Improvement of Drinking Water Facilities: Authorizing and Directing the Issuance and Sale of 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.
Attachments: 1. Memo, 2. Resolution, 3. Project Schematic

Title

Action on Resolution 24-067, a Resolution Relating to the Improvement of Drinking Water Facilities:  Authorizing and Directing the Issuance and Sale of 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.

 

Body

Summary:

Brookings Municipal Utilities (BMU) has successfully pursued State Revolving Funding (SRF) for a Water Treatment Facility & Water System Upgrade project. This Resolution will close the additional SRF loan for this project.

 

Recommendation

Recommendation:

Staff recommends approval.

 

Body2

Attachments:

Memo

Resolution

Project Schematic