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<br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Project title: Adopt an Ordinance Providing for the Issuance of One or More Series of Water and Sewer <br />Revenue Bonds in an Aggregate Principal Amount Not to Exceed $181,000,000. <br />Council Bill # interoffice use <br />CB 2502-18 <br />Project: 2025 Water and Sewer Revenue Bonds <br />Partner/Supplier: NA <br /> Location: NA <br />Preceding action: NA <br />Fund: Water & Sewer Utility Fund 401 <br />Agenda dates requested: <br /> <br />Briefing, 1st Reading 03/05/25 <br />2nd Reading 03/12/25 <br />3rd Reading 03/19/25 <br />Ordinance X <br />Public hearing <br /> Yes X No <br /> <br />Budget amendment: <br /> Yes X No <br /> <br />PowerPoint presentation: <br /> Yes X No <br /> <br />Attachments: <br />Ordinance <br /> <br />Department(s) involved: <br />Finance <br /> <br />Contact person: <br />Heide Brillantes, Finance <br />Director <br /> <br />Phone number: <br />(425) 257-8612 <br /> <br />Email: <br />HBrillantes@everettwa.gov <br />Initialed by: <br />HB <br />Department head <br /> <br />Administration <br /> <br />Council President <br />Fiscal summary statement: <br />The total principal amount is not to exceed $181,000,000. The debt service for the bond issue is <br />funded through the Water & Sewer Utility Fund 401. The payments for the debt service are <br />recorded in the Water & Sewer Utility Fund 401. <br />Project summary statement: <br />The issuance of one or more services of water and sewer revenue bonds provide funds to (1) pay <br />or reimburse all or a portion of the costs of carrying out certain projects including the Port <br />Gardner Storage Facility (PGSF) Project, PGSF West Marine View Drive Combined Conveyance <br />Improvement Project, 36th Street Combined Sewer Outflow Control Project, and Water Pollution <br />Control Facility (WPCF) Headworks Replacement Project, (2) to provide for meeting the debt <br />service Reserve Requirement, if necessary, and (3) to pay the costs of issuance of the bonds. <br />Recommendation (exact action requested of Council): <br />Adopt an Ordinance Providing for the Issuance of One or More Series of Water and Sewer <br />Revenue Bonds in an Aggregate Principal Amount Not to Exceed $181,000,000. <br /> <br />City Council Agenda Item Cover Sheet