2010/05/05 Council Agenda Packet

� F,},�,Y:' •lr"`.�a a�.>w••4. "° 1 ?nK inti.e�`y�p+3i x.1'0, -Co • ( .:.£ *,i e'i,,.h.�,t''`,�5,'1`,� .`; i +, m 3as "ate 4�q� } m4N adv x , Rq; -I -t +S-'.�{�\\3`tyl?• �' fi r' * .41: *aS� 's x " -y� #'-,�"`�Kti f VS' £!*.d f '* �D �A '�i�ir e... "�� . }'��4„:, ...„41. S.:, ^ ,k w f ,tet t -;h:.." ` ;%; � AS ' r 4 � k v �r � ` '�i;x ' ..�,t,�, .r.�v L,*,�:.�:Ihc...�' ,N,� + ,a. u . :4 w.�� =R `.�`.K�.:aL�'.,,..r...•. . 6 PROJECT TITLE: 2011 Public Works Trust Fund Consent COUNCIL BILL# Loan Application for X Action Originating Department Public Works Transmission Line No. 2, First Reading Contact Person Dave Davis Phase 9 Replacement Second Reading Phone Number (425)257-8800 Third Reading FOR AGENDA OF May 5,2010 Public Hearing Initialed by: Department Head CAA Council President /°,K. Location Preceding Action Attachments Department(s)Approval City of Everett Water 4/14/10-Budget Comm. Loan Application Legal,Admin System Amount Budgeted $6,420,000 Expenditure Required $6,420,000 Account Number(s):UP3424-1-650 Budget Remaining $-0- Transmission Line No.2,Phase 9 Replacement Additional Required $-0- DETAILED SUMMARY STATEMENT: The Public Works Department wishes to apply for a low-interest Washington State Public Works Trust Fund Loan to facilitate funding of Transmission Line No. 2,Phase 9. The project will involve the replacement of 4,400 feet of deteriorated 48-inch transmission line beginning at the Panther Creek Screenhouse and extending West towards the City. The project is estimated to cost$6.42 million and will be completed by September 2013. The terms of the loan are 0.5%interest rate for a 20-year term,with a local match of 15%. RECOMMENDATION: Authorize the Mayor to sign the 2011 Public Works Trust Fund Loan Application for Transmission Line No. 2,Phase 9 Replacement. 19