HomeMy WebLinkAbout08/03/2016 5G AGENDA BILL ��
CITY OF BREMERTON
CITY COUNCIL
SUBJECT: Approve Submittal of FY-2016 Study Session Date: July 27, 2016
Public Works Construction Loan Applications COUNCIL MEETING Date: August 3, 2016
to the Washington State Department of Department: PW&U
Commerce, Public Works Board Presenter: Tom Knuckey
Phone: (360)473-2376
SUMMARY: The Washington State Department of Commerce Public Works Board is accepting
applications for construction loan funding. The applications require formal approval by each
applicanYs governing body. Staff have reviewed the CIP and identified the following stormwater
conveyance projects to include in the applications; Price Road, Kitsap Way, Brenfinrood Drive, Eagle
Avenue and Lebo Boulevard.
ATTACHMENTS: 1) Summary 2) Blank Loan Application
FISCAL IMPACTS (Include Budgeted Amount): The identified loan terms are expected to be more
favorable than municipal bonds.
STUDY SESSION AGENDA: ❑ No Presentation � Full Presentation
STUDY SESSION ACTION: ❑x Consent Agenda ❑ General Business ❑ Public Hearing
RECOMMENDED MOTION:
Move to approve submittal of Public Works Construction Loan Applications to the Washington State
Department of Commerce Public Works Board; and authorize the Mayor to finalize and execute the
applications with substantially the same terms and conditions as presented.
COUNCIL ACTION: [�Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action
Form Updated 01/07/15