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CITY COUNCIL AGENDA ITEM BRIEFING SHEET <br />Submittal Date: <br />Originating Department: <br />Presented By: <br />Agenda Item No.: <br />4-27-2012 <br />Engineering, Planning & <br />Shawn Napier, P.E. Director of <br />Council Date: <br />Development <br />Engineering, Planning & <br />20, <br />5-14-2012 <br />Development <br />RECOMMENDED MOTION: <br />Deliberate and act on a resolution approving a professional services contract with McCa11, Parkhurst & <br />Horton, L.L.P. for Bond Counsel Services in the amount of $15,000.00 for the Texas Water <br />Development Board's Drinking Water State Revolving Fund loan for project #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 25th. The Hayter Engineering has prepared the <br />previous applications and has qualified the project as a green project. The green project status qualifies <br />the City for approximately 15% ($510,317.00) loan forgiveness. This reduces the loan amount to <br />$2,895,000.00. The current interest rate is approximately 2.1 <br />The City of Paris is required to acquire the following professional services in order to get the loan: <br />Bond Council, Financial Advisar and Engineering Firm. <br />BOARD/COMMISSION RECOMMENDATION: <br />EXHIBITS: <br />Resolution, Contract with addendum & location map <br />ACTION: <br />BUDGET INFO: <br />❑ Financial Report ❑ Minute Order <br />Expense <br />$ <br />F-I Department Report ~ Resolution <br />Budgeted Amt. <br />$ <br />❑ Presentation ❑ Ordinance <br />yTD Actual <br />$ <br />❑ Public Hearing ❑ Other <br />AName <br />[ <br />AcEct. Number <br />FISCAL NOTES: <br />REVIEWED AND APPROVED BY: <br />~ Administration E City Clerk E Eng., Planning & Development ❑ EMS/IT ❑ Finance ❑ Fire <br />❑ Municipal Court ❑ Legal ❑ Library ❑ Police ❑ Public Works ❑ Utilities <br />City of Paris <br />Revised 2/04/08 <br />I I A <br />