06-08-09 Utilities Committee - Laserfiche WebLink

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Utilities Committee June 8, 2009 Page 2 Philip J. Faccenda, Jr., an attorney with Barnes & Thornburg, LLP with offices located at 600 1st Source Bank Center in downtown South Bend made the formal presentation. He introduced Jennifer Wilson from Crowe Chizek and Andy Lambaris from DLZ, Inc. who were available for any questions. Mr. Faccenda noted that the $6.2 million revenue bond would fund upgrades, expansions, additions, replacements, extensions and improvements to the Waterworks including such items as: • Repair and replacement of a roof on the 5.5 million gallon reservoir • Repair~of an under drain and replacement of the filter media at a filtration plant • Replace four (4) main line valves • Installation of a water main extension south of Ireland Road and redesign, repair and replace the control valves for the Ireland Road Tank • Installation of a water main extension from Carroll Street and Johnson Road to Lucinda Street and to US 31 from Lilac Road to Armstrong Drive along Kern Road • Purchasing two (2) tandem axle dump trucks and one (1) backhoe • Purchase residential water meters He noted that the Indiana State Revolving Fund has approved a $300,000 grant; and that the Federal Stimulus money is for "shovel ready projects" many of which are backlogged projects, but that the city has not received confirmation from the federal government if these projects meet their criteria. Mr. Faccenda noted that NO rate increase is anticipated as a result of the proposed revenue bonds. In response to a question from Council Member Oliver J. Davis, Mr. Faccenda noted that if the city does not do the financing, that the grant money from the state will not be available. In response to a question from Council Member Henry Davis, Jr., City Controller M. Catherine Fanello stated that Water Works had a debt roll off, and that the overall debt services is decreasing. There was no one from the public to speak in favor or in opposition to the substitute bill. Following discussion, Council Member LaFountain made a motion, seconded by Council Member Puzzello that Substitute Bill No. 36-09 be sent to the Council with a favorable recommendation. The motion passed. There being no further business to come before the Committee, Council Member Oliver J. Davis adjourned the meeting at 4:31 p.m. Resp" /1~ sub if~ed, -' ~. ~~``L~ ~-= ouncil e~~ber liver J. Davis, Chairperson utilities ~ommittee Attachments