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Submittal Date: <br />4-27-2012 <br />Council Date: <br />5 _ 14-?(112 <br />CITY COUNCIL AGENDA ITEM BRIEFING SHEET <br />Originating Department: Presented By: <br />=Director da Item No.: <br />Engineering, Planning & Shawn Napier, PDevelopment Engineeri <br />ng, Development <br />RECOMMENDED MOTION: <br />Deliberate and act on a resolution approving ~ount of $172,972 00 for the Texas Wa er Developme n <br />for the design, plans and specifications in the <br />Board's Drinking Water State Revolving Fund loan for roject #9424. <br />POLICY ISSUE(S): <br />Contract <br />BACKGROUND: <br />The City of Paris has submitted an application to the Texas Water Development Board for a Drinking <br />Water State Revolving Fund loan in the amount of approximately $3.4-million dollars. The loan will be <br />used to fund 15 water line replacement projects from the City's Capital Improvement Project list (see <br />attached map). The application deadline is June 25". The Hayter Engineering has prepared the previous ifies applications and has qualified the project green <br />This red~es the loan amountqtol$2 895the <br />for approximately 15% ($510,317.00) loan forgivenes <br />The current interest rate is approximately 2.1 <br />The City of Paris is required to acquire the following professional services in order to get the loan: <br />Bond Council, Financial Advisor and Engineering Firm. <br />BOARD/COMMISSION RECOMMENDATION: <br />EXHIBITS: <br />Resolution, Contract & location map <br />ACTION: <br />Financial Report <br />Department Report <br />Presentation <br />Public Hearing <br />FISCAL NOTES: <br />F~ Minute Order <br />Z Resolution <br />Ordinance <br />F~ Other <br />BUDGET INFO: <br />Expense $0.00 <br />Budgeted Amt. $0.00 <br />YTD Actual $0.00 <br />Acct. Name <br />Acct. Number <br />REVIEWED AND APPROVED BY: ` <br />Z Administration Z City Clerk Z Eng•5 Planning & Development ❑ EMS/IT Finance ❑ Fite <br />Municipal Court ❑ I.ega1 ❑ Library ❑ Police ❑ Public Works ❑ Utilities <br />Revised 2/04/08 <br />City of Paris <br />- ~ 75 <br />