ITEM TITLE:
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Consider and ratify the action of the Lawton Water Authority approving a Resolution of Reimbursement 24-XXXX to the 2019 Propel CIP Water and Wastewater 1/2 cent to utilize funds which will be reimbursed with proceeds from DWSRF Loan ORF-24008-DW in the amount of $11,347,737.00 scheduled to close in late June.
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INITIATOR: Rusty Whisenhunt, Director of Public Utilities
STAFF INFORMATION SOURCE: Rusty Whisenhunt, Director of Public Utilities
BACKGROUND: On March 28, 2023, City Council was given a presentation on Public Utilities' Water and Wastewater system conditions and a plan of improvements with a means of funding the improvements. On June 27, 2023, City Council approved the Master Service Agreement with Garver, LLC. On July 25, 2023, City Council Approved Amendment No. 1 to the Master Service Agreement with Garver, LLC, that includes design and Bidding services for water main line replacement Project located in Map section #11 (approximately 25,000 feet located north of Lincoln between Fort Sill Blvd and Sheridan Road ). The estimated cost of Phase I construction is $10.5 million and will rehabilitate lines that have produced 75 main breaks over the past two years. The City Council Approved Plans & Specifications and authorized advertisement on December 5, 2023.
The project was advertised, and bid received, DWSRF loan ORF 24008-DW is scheduled to close in late June. This resolution will allow award of Map 11 Phase I Waterline Rehabilitation Project now and the CIP will be reimbursed for any expenditures that occur before the loan closing. The expenditures are expected to be minimal, but the resolution is required to award and encumber the project.
EXHIBIT: Resolution
KEY ISSUES: Does the City Council wish to approve a resolution to the 2019 Propel CIP Water and Wastewater 1/2 cent to utilize funds which will be reimbursed with a DWSRF Loan expected to close in late June?
FUNDING SOURCE: 2019 Propel CIP Water / Wastewater 1...
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