HomeMy WebLinkAbout02-173 AGENDA BILL
BREMERTON CITY COUNCIL
1. SUBJECT: State Revolving Fund FOR AGENDA OF: September 11, 2002
Loan Agreements Between Department ORIGINATING DEPT: Public Works & Utilities
Of Ecology a~n,d City of Bremerton ORIGINATOR: W. E Sampley, Director
~e,~o[c/~t,{~Tr~. t~o~ ~-~'~-~ DATE SUBMITTED: September 10, 2002
2. CLEARANCES: (Comment on back if necessar~) 3. EXHIBITS:
City Attorney ~Resolution No.
Finance Director
Operations Committee
Fiscal & Budget Comm.
ENDORSEME~,~j~,~TION __ APPROVED BY COUNCIL PRESIDENT FOR SUBMITTAL:
MAYOR~"~ ~> ~X)UNCIL PRESIDENT
4. SUMMARY STATEMENT AND REQUIREMENT FOR COUNCIL ACTION:
The City of Bremerton has applied for and received a State Revolving Fund (SRF) Loan from the Department of
Ecology to provide low imerest loans to assist local homeowners in repairing, replacing or installing new sanitary and
stormwater sewer systems as pan of the Cooperative Approach to CSO Reduction Program, an element of the City's
Combined Sewer Overflow (CSO) Reduction Program. Ecology has forwarded Loan Number L0300006 in the
amount of $250,000.00 to the City for acceptance. Copies of the Loan Agreement are attached herein by reference.
The loan agreement is for a period of 20 years at 1.5% interest. The action before the City Council is approval of
SRF Loan Agreement L0300006 subject to City Attorney approval of final relevant terms and conditions consistent
with the stated loan agreement.
8. RECOMMENDATION:
The City Council approve Resolution ~}~ 7 q authorizing the City of Bremerton to receive SRF Loan No. L0300006
and authorize the Mayor to execute the same.
9. RESPONSIBLE OFFICIAL: Director of Public Works & Utilities
ENFORCEMENT OFFICIAL: Director of Public Works & Utilities
EXPIRATION DATE: NA
REVIEW DATE: NA
10. NOTICE OF, ACTION
PULLED__ TABLED__ APPROVED g/~ DISAPPROVED__ AMENDED__
COUNCIL DIRECTIVE: DATE:
II. AGENDA BILL NO: 0t::~ -- /7,~
2. CLEARANCE COMMENTS:
5. IMPACT ON NON-PASSAGE:
Funding will not be available to implement the CSO disconnection program to provide financial assistance to local
homeowners in repairing, replacing or installing new sanitary and storm water sewer systems as part of the City's
Combined Sewer Overflow (CSO) Reduction Program.
6. IMPACT ON STAFFING~ BUDGETS~ FACHXrIES~ EQUH?MENT OR OTHER RESOURCES:
None.
7. RESEARCH SOURCES:
None