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v._,t,X„t:t:: ..1t;'nvs'. � Y:.::.W.i.n,�MlY.s`:t?:/!:iSD .'j'1:: ^`<;iY' av`StiiJ ;•s'::�s.g.4" ..ti' ::M1:i 'C'• <br /> • <br /> ..o. :t`�,�'c. .�-> .t .t. .fig".?.�pou .1.� :._ay;.';e`s".<,;.P;3,.•..,. :2Y.s`i°:.�-':;:.,,_�., r.;_._'. <br /> sz it 51 a t' 1r r.•yi, � � �� Y34 a E. ty 5,9z,. s <br /> mac. a �� ♦ :. .• - <br /> � 'd:it�. cid ;aJ'v.'s:'..`. �� _3� .r.'" f. . `:�4. '-�'4�!z•...?:.x... r •'�•F'.,. .; ... .1! .T.':'w�?�.::1a�,.. �.-......,1 .s. ... <br /> • 4 <br /> PROJECT TITLE: • <br /> An Ordinance creating a . Briefing • COUNCIL BILL# CI(Oa,—O <br /> special construction fund Proposed Action Originating Department - Public Works <br /> entitled"Water and Sewer Consent Contact Person Dave Davis <br /> System Improvements Fund", Action Phone Number 425-257-8913 <br /> Fund 336 to accumulate all First Reading - FOR AGENDA OF Feb 23,2011 <br /> design and construction costs Second Reading <br /> for critical water and sewer Third.Reading. <br /> system improvements Public Hearing <br /> Budget Advisory - Initialed by: <br /> Department Head. <br /> CAA at.A <br /> •• <br /> Council President 'fA <br /> Location Preceding Action Attachments Department(s)Approval <br /> Everett Water System Ordinance 3156-09 Proposed Ordinance . Admin, Legal <br /> Everett Sewer System Pending Bond Issue • Public Works <br /> Ordinance <br /> • <br /> Amount Budgeted $ 199,290,000 <br /> Expenditure Required $ 199,290,000 Account Number(s): Fund 336 <br /> Budget Remaining $-0 • <br /> - <br /> Additional Required $-0- <br /> 0 <br /> DETAILED SUMMARY STATEMENT: <br /> On November 25, 2009, Council adopted Ordinance 3156-09 increasing water and sewer rates to, in part, <br /> pay for the cost of debt financing construction projects.Additionally,there is a concurrent ordinance before <br /> Council to authorize the issuance of$51 million in water and sewer revenue bonds to complete the <br /> Transmission Line No: 2 and 3 Replacement Project and other water and sewer system improvements. <br /> "Water and Sewer System Improvements Fund",Fund 336 will provide funding from 2011-2014 for capital <br /> construction projects estimated to be$199,290,000:Major water projects to be funded include Transmission <br /> Line No. 2 and 3 Replacement Phases 7, 9, and 10 estimated to be$23.49 million.-Major sewer projects to be <br /> funded include the Water Pollution Control Facility Phase B and C estimated to be$53.13 million. Sources <br /> of funding that will finance these projects are revenue bonds, Water and Sewer District Direct Contributions <br /> and City of Everett Utility Department charges for services. <br /> RECOMMENDATION(Exact action requested of Council): <br /> Adopt an Ordinance creating a special construction fund entitled"Water and Sewer System Improvements <br /> Fund", Fund 336 with an initial appropriation of$199,290,000 to accumulate all design and construction <br /> costs for critical water and sewer system improvements. <br /> 39 <br />