(First and Final Reading) An ordinance providing for the issuance and sale of a Sewer Revenue Bond, in an amount not to exceed $21 million, to evidence the City’s obligations under a Water Infrastructure Finance and Innovation Act loan with the United States Environmental Protection Agency, for costs associated with repairs and improvements to the electrical distribution system at the Central Treatment Plant; approving and authorizing execution of the loan agreement and providing for the disposition of the proceeds of the loan, the delivery of the bond to the United States Environmental Protection Agency, and the payment of costs of issuance of the bond; delegating the authority to approve the final terms of the bondand declaring an emergency, making necessary the passage of this ordinance, and becoming effective immediately. [Teresa Sedmak, City Treasurer; Andy Cherullo, Director, Finance]

Committee

City Council

Requested by

Finance

Introduced

June 17, 2020

On agenda

September 15, 2020

Passed

September 15, 2020