HomeMy WebLinkAbout2004 Resolution No. 048•
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RESOLUTION NO . ff_
SE RI ES OF 2004
A RESOLUTION OF THE CITY COUNC IL OF THE CITY OF ENGLEWOOD , CO LORADO,
DECLARING IT S OFFICIAL INTENT TO REIMB URSE ITSELF WITH THE PROCEEDS OF
A FUTURE BORROWING FOR CAPITAL OUTLAYS RELATED TO THE PHASE II
EXPANSION OF THE LITTLETON/ENGLEWOO D WASTEWATER TREATME NT PLA NT.
WHEREAS , the City of Englewood (the "City"), in the State of Co lorado (the "S tat e"), is a
poli ti cal subdi vision dul y organized an d ex istin g purs uant to th e Co nstitution and laws of the
State ; and
WHEREAS , the City Council of the City (the "C ity Council") is th e goveming body o f the
City; and
WHEREAS , the City Council has det ennined that this is a priority beca use it ex pand s th e
capac ity or the Littleton/Englew ood Wast ewater Tr~atment Plant and ensure s ... umpliance with
state and federal requirements ; and
WHEREAS, the Littleton/Engle·~uod Wastewater Treatment Plant has a current treann ent
capacity of 36.3 million gallons per day and 63 ,000 poun ds per day of organic matter ;
WHEREAS , the expansi on of the pre se nt facility is needed due to th e population growth in the
se i vice area and regulatory requirements which require nitrate remova l from plant effl uent ; and
WHERAS , the total cost of the project is $1 10,000 ,000 which will be funded by Littleton and
Englewood bt using re serves and iss uing water revenue and Water Pollution Contro l Revol ving
Fund Bonds; and
WHEREAS , the City Counci l hereby desires to de clare its officia l int en t, pursuant to 26
C.F.R. § 1.150-2 , to reimburse the Ci ty fo r such capital expe nditures with the proceeds of the
City 's future taxab le or tax-exempt borrowing;
NOW, THEREFORE , BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD, COLORADO , TH AT:
Section I . Declaration of Official In te nt. The City shall , pre sent ly intend s, and re aso nably
expects to financ e th e Project with lega ll y ava il ab le fund s.
~ct ion l . Dates of Capital Expenditures . All of the capital ex pen ditur es covc1 .. d by th is
Re:oluli on we re or will be made on and after th e date, which is sixty (60) day s prior to th e
effective date of thi s Re so luti on.
Sec ti on 3. Iss uance of Bond s Notes or a Lease Pu rchase Financing . The City pre se ntl y
in tends and reas onably expects to participate in taxable or tax-exempt borrowing within eighteen
( 18) month s of the date of the expenditure of moneys on the Projec t or the da te up on which the
Project is placed in se rvi ce, whic he ver is later (but in no event more than three (3) years aft er the
date of the original ex penditure of such money s), and to all ocate from said borrowing an amount
not to exceed the Financed Amount to reimburse th e City for its expe nditure s in co nne cti on with
the Proje ct.
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Section 4. Confinnation of Prior Acts. All prior acts and doings of the officials , agel'!t: .::n d
employees of the City, which are in confonnity with the purpos e and intent of this Rcw lut ion,
and in funhe rance of the Project , sha ll be and the same hereby are i" all rospec ts ratif ,ed,
approved and confinned .
ADOPTED AND APPROVED this 5th day of April, 2004.
I, Loucrish ia A. Ellis, City Clerk for }IJs.,<;:ity of Englew
above is a true copy of Resolu tion No . ::tJL...., Series of
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COUNC IL COMMUN ICATION
Da te Agen da It em Sub ject
April 5, 2004 11 Ci A reso lutio n declaring th e intent of th e
City of En glewood to r eimburse itse lf
wi th proceeds of a future b orrowing fo r
capi tal outl ays related t o th e Ph ase II
ex pansion of th e Littl et on/En glewoo d
Was tewater Trea tm ent Plant
In itia ted By
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Staff So urce
City of Englewood, Fina nce and Admin istrati ve Frank G r, ,lewicz, D irec tor
Serv ices D eoartm ent
COUNCIL GOAL AND PREVIO US CO UNCIL ACTION
The City Council has made this proj ec t a pri ori ty beca use it expa nds the capac ity or th e pl ant and ens ur es
compliance wi th state an d federa l require ments.
RE COMMENDED ACTION
Staff recommends the City Co un cil approve th e att ache d resolution decl ar in g th e in tent of the Ci ty l o
reimburse it se lf w ith procee ds fr om a futu re bo rr owing.
BAC KGROUND, ANALYSIS, AN D ALTERNATIVE S IDEN TIFIED
The Littl eto n/Eng lewood Was tewa ter Treat m ent Plant has a current trea tm ent ca pa city of 36.3 milli on
ga ll o ns pe r day (m gd) and 63,000 po un ds pe r day of organic ma tt er. The two primary reaso ns drivi ng th e
expa nsion of th e present fac ility are:
• Popula ti on growth in th e service area
Reg ulatory req ui re m en ts to require ni tra te remova l from plant efflu en t
The t r.:al cost of th e projec t is $110,000,000. Tiie two ci ties wi ll fund this project by using reserves, an d
issu 'ng wa ter reve nue and Water Pollution Control Revo lvin g Fun d Bonds.
FI NANCIAL IMPACT
The to tal project cost is $110 mill ion; fina nced by using rese rves, and iss uin g water rev enu e and Wa ter
Po llutio n Co nt ro l Revolvin g Fun d Bon ds
LI ST OF ATTA CHM ENTS
• Proposed reso luti on