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10134-11 Waterworks Revenue Bonds $8,300,000
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10134-11 Waterworks Revenue Bonds $8,300,000
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Last modified
12/2/2011 12:45:20 PM
Creation date
12/2/2011 12:45:17 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/28/2011
Ord-Res Number
10134-11
Bill Number
70-11
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x 18e2 x INTER-OFFICE MEMORANDUM <br /> ti�`"" �`�� �,✓`,9 Department of Public Works <br /> �%/��CE�\'° � � . <br /> � �� �, ,,, , ,�A Water Works <br /> N� ;'/ ����� <br /> o� �/��r�i���;1���,�,q <br /> �onsH Bti <br /> TO: City Council _ <br /> FROM: Dave Tungate <br /> SUBJECT: 2012 Revenue Bonds <br /> DATE: November 8, 2011 <br /> The South Bend Water Works plans to issue revenue bonds in the amount of$8.3 million. There <br /> is no rate increase associated with this bond issue. A revenue bond from 1997 will be paid off in <br /> January 2012. We plan to use the money dedicated to the principal and interest payment for the <br /> 1997 bonds to pay for the new revenue bonds. There will be no rate increase necessary to pay for <br /> this revenue bond. <br /> The 2012 bond projects can be divided into three categories. One category is distribution system <br /> improvements. These projects will include water main extensions from our water system master <br /> plan, which will allow us to more efficiently move water through our water system. A second <br /> category includes equipment purchases such as automated meter reading water meters, a hydro <br /> excavation truck, and upgraded site security equipment. The third category is an upgrade to the <br /> water treatment capacity at the Pinhook Filtration Plant. This treatment plant has the <br /> infrastructure to produce additional water with minor upgrades. Additional water production <br /> � from Pinhook will allow us to be more flexible with our water production facilities. <br /> Fii�� �r� ���t'�'� �ice <br /> NQV n 8 2011 <br /> J�t�W!/qfJR�E <br /> CIT'Y CLERlC,SOUTt��END,IN <br />
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