Consent 1.E.
Regular City Council Meeting
- Meeting Date:
- 12/12/2016
- TITLE
- Resolution Setting Forth the City's Intention to Issue Revenue Bonds for the Upgrade of the Wastewater Treatment Plant
- PRESENTED BY:
- Patrick M. Weber
- Department:
- City Hall Administration
Presentation:
PROBLEM/ISSUE STATEMENT
Public Works will be upgrading the wastewater treatment plant to meet discharge standards that will be required with the new Montana Pollutant Discharge Elimination System (MPDES) wastewater discharge permit. Bonds will be issued to pay for the work. This resolution authorizes the City to begin working on the bond sale.
ALTERNATIVES ANALYZED
City Council may:
- Approve, or;
- Disapprove and not upgrade the wastewater treatment plant required with the new Montana Pollutant Discharge Elimination System wastewater discharge permit. This could expose the City to numerous fines and penalties.
FINANCIAL IMPACT
The resolution states the City's intention to issue up to $65 Million in bonds to design and construct the facilities and for bond issuance costs.
RECOMMENDATION
Staff recommends that the City Council approve the attached resolution authorizing the City staff to begin working on the bond sale.