2003-371RESOLUTION NO. 2003-371
A Resolution authorizing interfund borrowing to provide interim funding for the
Safe Drinking Water Fund Project and to comply with requirements of the
Wisconsin Safe Drinking 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 an additional water pumping station
for the City of Janesville, in cooperation with Strand Associates, Inc.; and
WHEREAS, the Water Utility will make application for a Wisconsin Safe Drinking Water Fund
Loan to assist in the financing of the design and construction of said facility; and
WHEREAS, the City desires to comply in all respects with the requirements of the Wisconsin
Safe Drinking 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 Safe
Drinking Water Fund Loan Program so as to avoid impermissible arbitrage in financing and
refinancing of the water pumping station 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 Safe Drinking Water Fund Loan Program
and that such expenditures be paid from the general funds of the Utility; and
BE IT FURTHER RESOLVED, that the City has the intent to seek financing and refinancing
with the Wisconsin Safe Drinking Water Fund Loan to pay $750,000 of the expenditures for
the design and construction of the water pumping station, all said financing and refinancing to
be in compliance with the Wisconsin Safe Drinking 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 water pumping station performed by independent
contractors which may not be included in billing for engineering services provided by Strand
Associates, Inc. and seek reimbursement from the Wisconsin Safe Drinking Water Fund
Loan Program from the general funds of the Utility; and
BE IT FURTHER RESOLVED, that the City has the intent that Safe Drinking Water Fund
Loan repayments be repaid with the revenues of the City water user charge system.
ADOPTED: April 28, 2003
APPROVED:
Steven E. Sheiffer, C'i~y Manager
ATTEST:
MOTION BY: Steeber
SECOND BY: Murphy
COUNCILMEMBER AYE NAY PASS ABSENT
ADDLE X
MURPHY X
DEGARMO X
STEEBER X
WILLIAMS X
BRIEN X
WELLNITZ X
e urer
~Kit~man, Deputy City Clerk-Tr as
APPROVED AS TO FORM:
City Attorney ' ' ~''' '/ /
Proposed by: Utility Director
Prepared by: Utility Director