Subject: Communication sponsored by Alder McCarthy, on behalf of the Racine Waterworks Utility Director, requesting approval of a resolution regarding declaration of official intent to reimburse costs attributed to the 42" Phase 4 Water Main Replacement Project. Recommendation of the Finance and Personnel Committee on 04-29-2024: That the Racine Waterworks Utility Director be granted approval of a resolution regarding declaration of official intent to reimburse costs attributed to the 42" Phase 4 Water Main Replacement Project. Recommendation of the Waterworks Commission on 03/19/2024: To Approve with a Referral to the Finance & Personnel Committee. Fiscal Note: The aggregate principal amount of debt for the project is expected not to exceed $5,000,000 with the balance reduced by eligible Principal Forgiveness earned. Funding for the Project to be financed through the FY 2025 WDNR Safe Drinking Water Loan Program.

Committee

Finance and Personnel Committee

Introduced

March 8, 2024

On agenda

May 9, 2024

Passed

May 7, 2024