File #: 24-0446R    Name:
Type: Resolution Status: Passed
File created: 5/31/2024 In control: Public Works and Utilities
On agenda: 6/10/2024 Final action: 6/10/2024
Title: RESOLUTION AUTHORIZING THE APPLICATION TO THE MINNESOTA PUBLIC FACILITIES AUTHORITY FOR A LOAN FROM THE DRINKING WATER REVOLVING FUND FOR IMPROVEMENTS RELATED TO THE RALEIGH STREET AND CHESTER PARK ALLEY LEAD SERVICE LINE REPLACEMENT PROJECT (PFA PROJECT 1690011-18) AS DESCRIBED IN THE LOAN APPLICATION.
Attachments: 1. MPFA LSLR Application

Title

RESOLUTION AUTHORIZING THE APPLICATION TO THE MINNESOTA PUBLIC FACILITIES AUTHORITY FOR A LOAN FROM THE DRINKING WATER REVOLVING FUND FOR IMPROVEMENTS RELATED TO THE RALEIGH STREET AND CHESTER PARK ALLEY LEAD SERVICE LINE REPLACEMENT PROJECT (PFA PROJECT 1690011-18) AS DESCRIBED IN THE LOAN APPLICATION.

 

Body

CITY PROPOSAL:

RESOLVED, that the city of Duluth is hereby applying to the Minnesota Public Facilities Authority for a loan from the Drinking Water Revolving Fund for a lead service line replacement project as described in the loan application.                                                                                                                                                                                                                                                                                                                           

BE IT FURTHER RESOLVED that the city of Duluth estimates the MPFA-Financed amount to be $338,000 or the as-bid cost of the project.                                                                                                         

 

BE IT FURTHER RESOLVED, that the city of Duluth has the legal authority to apply for the loan, and the financial, technical and managerial capacity to repay the loan and ensure proper construction, operation and maintenance of the project for its design life.

 

BE IT FURTHER RESOLVED, that the city of Duluth hereby expresses its official intent to use the proceeds of this loan to reimburse construction expenditures made prior to the issuance of its general obligation bond to the Public Facilities Authority.

 

Statement of Purpose

STATEMENT OF PURPOSE:  This resolution authorizes submittal of the loan application to the Minnesota Public Facilities Authority to fund lead service line replacement related to the separate Raleigh Street and Chester Park Alley projects which were submitted jointly for funding to the PFA.  The city is seeking funding from the Minnesota Public Facilities Authority to take advantage of the available Federal and State funding reimbursement for these LSLR projects.