2003-359RESOLUTION NO. 2003-359
A Resolution authorizing interfund borrowing to provide interim funding for the
Clean Water Fund Project and to comply with requirements of the Wisconsin
Clean Water Fund Loan Program
WHEREAS, the City of Janesville has entered into an engineering agreement for engineering
services for the construction plans and specifications for improvement of wastewater
treatment facilities for the City of Janesville, in cooperation with Earth Tech, Inc.; and
WHEREAS, the Wastewater Utility will make application for a Wisconsin Clean Water Fund
Loan to assist in the financing of the design and construction of such facility improvements
including the rehabilitation of the digestion system, modification of the aeration blowers and
aeration tanks, and replacement of the underground energy recovery piping; and
WHEREAS, the City desires to comply in all respects with the requirements of the Wisconsin
Clean Water Fund Loan Program and to refrain from any financial activity which may be
considered impermissible arbitrage;
NOW, THEREFORE BE IT RESOLVED, by the Common Council of the City of Janesville
that it hereby sets forth as its policy compliance with all requirements of the Wisconsin Clean
Water Fund Loan Program so as to avoid impermissible arbitrage in financing and refinancing
of the wastewater treatment facility design and construction, and otherwise; and
BE IT FURTHER RESOLVED, that the City pay for services received from its Engineer prior
to the approval of any loan(s) from the Wisconsin Clean Water Fund Loan Program and that
such expenditures be paid from the general funds of the Utility and from the Sinking Fund
established in 1984 for Treatment Plant repairs and maintenance; and
BE IT FURTHER RESOLVED, that the City has the intent to seek financing and refinancing
with the Wisconsin Clean Water Fund Loan to pay $1,600,000 of the expenditures for the
design and construction of the Wastewater Treatment facility, all said financing and
refinancing to be in compliance with the Wisconsin Clean Water Fund Loan Program so that
the City may be eligible for all monies available under said program; and
BE IT FURTHER RESOLVED, that the City may pay for services provided in conjunction with
the design and construction of the Wastewater Treatment Plant facility performed by
independent contractors which may not be included in billing for engineering services
provided by Earth Tech, Inc. and seek reimbursement from the Wisconsin Clean Water Fund
Loan Program from the general funds of the Utility; and
BE IT FURTHER RESOLVED, that the City has the intent that Clean Water Fund Loan
repayments be repaid with the revenues of the City sewer user charge system.
ADOPTED: March 24, 2003
APPROVED:
Steven E. Sheiffer, City Manager
A~EST:
APPROVED AS TO FORM:
City Attorney' ~ / ' '
Proposed by: Utility Director
Prepared by: Utility Director
MOTION BY: Steeber
SECOND BY: Brien
COUNCILMEMBER AYE NAY PASS ABSENT
STEEBER X
MURPHY X
DAMRON X
WILLIAMS X
DEGARMO X
BRIEN X
O'LEARY X