2015/09/16 Council Agenda Packet

EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET DJECT TITLE: .rdinance authorizing the issuance of Water and Sewer Revenue bonds in the principal amount of not to exceed $55,000,000 for the purpose of acquiring, constructing and installing certain additions and betterments to and extensions of the City's water and sewer system. 9/16/15 Briefing Proposed Action Consent Action 9/16/15 First Reading 9/23/15 Second Reading 9/30/15 Third Reading Public Hearing Budget Advisory COUNCIL BILL # Originating Department Contact Person Phone Number FOR AGENDA OF Initialed by: Department Head CAA Council President /,5 a� Finance/PW Susy Haugen Matt Welborn X8612/X8974 9/16/15 Location Preceding Action Attachments Department(s) Approval Ordinance Amount Budgeted -0- Expenditure Required -0- Account Number(s): ,udget Remaining -0- Additional Required -0- DETAILED SUMMARY STATEMENT: The proposed bond issue will finance the construction for all or portions of the following projects: SEWER/STORM WATER PROJECTS Sewer "M" Grand Avenue Park Utilities bridge Water Pollution Control Diversion Structure Zero modifications Water Pollution Control Facility — Phase C expansion Port Gardner Wet Weather Storage Facility Northwest Everett Storm water Separation These projects are contained in the Comprehensive Sewer Plan, which was reviewed by City Council on the December 3, 2014, briefing, and approved on December 17, 2014 (Resolution 6805), and during the third and final reading of Ordinance 3417-14, which amended and sewer and storm water rates for Everett utility customers through 2016. nECOMMENDATION (Exact action requested of Council): Adopt Ordinance authorizing the issuance of Water and Sewer Revenue and Refunding bonds in the principal amount of not to exceed $55,000,000 for the purpose of acquiring, constructing and installing certain additions and betterments to and extensions of the City's water and sewer system.