1988 - Laserfiche WebLink

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r 25-1 ?. Keith Reed, of Reed & Stowe, Water and Sewer Rate Study Consultants, was present advising that at their meeting with City Staff and Bob Day, Financial Consultant for the City of Paris, regarding the best means to approach the financing of the proposed improvements, Mr. Reed said they started off looking at the total cost of the recommended projects. Mr. Day had prepared a debt service schedule in the amount of five Million Dollars bonded indebtedness cost, after discussion,it was decided that anything above 5 million would not be in the best interest of the City because of current regulations of the Internal Revenue Service. Mr. Reed said if you stay at the 5 Million Dollar level it will allow you to maximize the City's interest income on bond proceeds, and their - recommendation would be the sale of 5 Million Dollars in Certificate -of Obligation Bonds to use over a period of 2 -2 112 years, take care of the first phase of the highest priorities of the needed improvements, then after you get these imrovements completed, it may be with these improvements being made it could substantially have improved the water and wastewater systems where you do not have 35% loss in treated water, and the 36 -37% in Infiltration/Inflow at the treatment plant. A motion was made by Councilman Clifford, seconded by Councilman Fendley approving the issuance of 5 Million Dollars in Certificates of Obligation Bonds, and instructing the Water & Sewer Rate Study Consultants to include the bond issue in the Water and Sewer Rate Study. The motion carried 6 ayes, 0 nays. Resolution No. 88 -038 resolving that the prevention of wastewater entering the streams of the State of Texas by the construction of bypass prevention basins at Woodard and Southeast Lift Stations is found to be and does justify the declaration of an emergency and the same is hereby declared, and authorizing exercising the emergency powers as the same relating to budgeting, expenditures, procurement and bid process with the only requirement being that the City Council be kept abreast of the progress of the project was presented. City Manager Malone advised that Barbara Burrell at E.P.A. had called yesterday and again today concerning the Administrative Order that the City of Paris is currently under. Ms. Burrell is the person responsible for monitoring the City's progress under the current Order. Mr. Myer at the Texas Water Commission in the wastewater enforcement branch also called concerning the bypass reports for the City. City Manager Malone said the chief concern of Ms. Burrell is the federal law mandates that everyone will be in compliance by July 1, 1988, and our last Administrative Order asked that we complete our construction on the five lift stations that we are rehabilitating by April 30, 1988, and that the City be in compliance by the end of May. City Manager Malone informed the Council that it is believed that the rehabilitation of the Lift stations will not eliminate all bypasses because some of the bypasses are due to high water caused by infiltration and inflow. The consensus of the staff is to construct the bypass prevention basins at Woodard and S.E. Lift Stations. Mr. Gibson has been contacted and has no objection to the construction of the basin at the S. E. Lift Station. After discussion, a motion was made by Councilman Fendley, seconded by Councilman Wortham for approval of the Resolution. The motion carried 4 ayes, 1 nay, 1 abstaining.