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CITY COUNCIL AGENDA ITEM BRIEFING SHEET <br />Submittal Date: <br />Originating Department: <br />Presented By: <br />Agenda Item No.: <br />5-17-2012 <br />Engineering, Planning & <br />Shawn Napier, P.E. Director of <br />Council Date: <br />Development <br />Engineering, Planning & <br />20. <br />5-31-2012 <br />Development <br />RECOMMENDED MOTION: <br />Deliberate and act on a resolution authorizing the submission of an application to apply for a loan to the <br />Texas Water Development Board's Drinking Water State Revolving Fund for project #9424. <br />PoLicY IssuE(s): <br />Contract <br />BACKGROUND: <br />The City of Paris has submitted preliininary applications to the Texas Water Development Board for a <br />Drinking Water State Revolving Fund loan in the amount of approxiinately $3.4-million dollars. The <br />loan will be used to fund 15 water line replaceinent projects fram the City's Capital Improvement <br />Project list (see attached inap). The formal application is due before June 25"'. The project has been <br />qualified as a green project. The green project status qualifies the City far approxiinately ] 5% <br />($510,317.00) loan forgiveness. This reduces the loan ainount to $2,895,000.00. The current interest <br />rate is approximately 2.1 <br />At the City Council meeting on May 14"' the City Council approved agreements with The following <br />coinpanies as required by the Texas Water Developinent Board: Bond Council - McCall, Parkhurst & <br />Horton L.L.P., Financial Advisor - Southwest Securities and Engineering Firm - Hayter Engineering. <br />BOARD/COMMISSION RECOMMENDATION: <br />EXHIBITS: <br />Resolution, Application Filing <br />ACTION: <br />BUDGET INFO: <br />❑ Financial Report ❑ Minute Order <br />Expense <br />$0.00 <br />❑ Department Report E Resolution <br />Budgeted Amt. <br />$0.00 <br />❑ Presentation ❑ Ordinance <br />y'I'D Actual <br />$0.00 <br />❑ Public Hearing ❑ Other <br />Acct. Name <br />Acct. Number <br />FiscAL NoTES: <br />REVIEWED AND APPROVED BY: <br />EAdministration SCity Clerk Z Eng., Planning & Development ❑ EMS/IT ❑ Finance ❑ Fire <br />❑ Municipal Court ❑ Legal ❑ Library ❑ Police ❑ Public Works ❑ Utilities <br />Citv of Paris <br />Revised 2/04/08 <br />` ` 99 <br />