HomeMy WebLinkAbout09/20/2017 6EAGENDA BILL
CITY OF BREMERTON
CITY COUNCIL 6E
SUBJECT: Amendment C (Loan Scope Study Session Date: September 13, 2017
Modification and Term Change) to the COUNCIL MEETING Date: September 20, 2017
Drinking Water State Revolving Fund Department: Engineering
(DWSRF) Loan for the Reservoir 4 Cover Presenter: Ned Lever
Replacement Project Phone: (360) 473-2398
SUMMARY: A DWSRF loan (Loan DM15-952-026) was executed in June 2015 for an evaluation,
design and construction of a new cover for Reservoir 4; the loan amount is $2.3M and has a current
term of 10 years. This Amendment C includes a scope modification to include a mechanical mixing
system and increases the loan term from 10 years to 15 years. .
ATTACHMENTS: Loan Agreement/Contract Amendment C DM 15-952-026
FISCAL IMPACTS (Include Budgeted Amount): The Amendment extends the loan term to 15 years
which reduces the annual debt service. The project is included in the 2016 and 2017 budgets.
STUDY SESSION AGENDA: ® No Presentation ❑ Full Presentation
STUDY SESSION ACTION: ® Consent Agenda ❑ General Business ❑ Public Hearing
RECOMMENDED MOTION:
Move to approve Amendment C to DWSRF Loan DM 15-952-026; and authorize the Mayor to finalize
and execute the agreement with substantially the same terms and conditions as presented.
COUNCIL ACTION: [Approve ❑ Deny ❑ Table ❑ Continue
❑ No Action
Form Updated 01/07/15