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.t_ <br /> EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET 13, <br /> PROJECT TITLE: <br /> 2005 Public Works Trust Fund Consent COUNCIL BILL# <br /> Construction Loan Application for Action Originating Department Public Works <br /> Transmission Line No. 3 Replacement- First Reading Contact Person Tom Thetford <br /> Phase VII Second Reading Phone Number 425 257-8800 <br /> Third Reading FOR AGENDA OF April 7, 2004 <br /> Public Hearing <br /> Initialed by: <br /> Department Head <br /> CAA <br /> Council President „Ater <br /> Location Preceding Action Attachments Department(s)Approval <br /> Council approval of this agenda item authorizes a budget revision in the additional amount requested. <br /> Expenditure Required $ -0- Account Number(s): <br /> Amount Budgeted $ -0- <br /> Additional Required $ -0- <br /> DETAILED SUMMARY STATEMENT: <br /> The Public Works Department is submitting an application to the Washington State Public Works Board for <br /> a Public Works Trust Fund (PWTF) loan. This 2005 application is for the replacement of Transmission Line <br /> No.3, Phase VII. The project will replace approximately 4,000 lineal feet of the 70-year old 48-inch diameter <br /> transmission steel pipe. Transmission Line No.3 is located east of Everett between Home Acres Road and <br /> Ebey Slough parallel to and south of US Highway 2. The project's objective is to restore the design capacity <br /> and integrity of the pipeline. The amount of the loan request is $3,035,350 at 1/2 percent interest rate and a <br /> repayment term of 20 years. The total cost of the project is estimated at $3,571,000. <br /> RECOMMENDATION (Exact action requested of Council): <br /> Authorize the Mayor to sign the Year 2005 Public Works Trust Fund Construction Loan Application- <br /> Transmission Line No.3 Replacement-Phase VII. <br /> 88 <br />