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HomeMy WebLinkAbout4456 Resolution - PWB Loan Application BWTP ImprovementsResolution – PWB Loan App for Butterfield WTP Improvements - 1 RESOLUTION NO. 4456 A RESOLUTION OF THE CITY OF PASCO, WASHINGTON, AUTHORIZING THE SUBMITTAL OF A PUBLIC WORKS BOARD LOAN APPLICATION FOR THE BUTTERFIELD WATER TREATMENT PLANT IMPROVEMENTS PROJECT. WHEREAS, the Butterfield Water Treatment Plant (WTP), originally built in 1946, having been expanded and improved through the years has reached the end of its useful life; and WHEREAS, the City of Pasco (City) completed the Butterfield WTP Facilities Plan, which defines a capital improvement strategy to address capacity, water quality, safety, and end - of-life deficiencies; and WHEREAS, to help fund these improvements, the City is requesting authorization to submit an application for a low-interest construction loan with the Public Works Board (PWB); and WHEREAS, the PWB Pre-Construction and Construction Loan Program makes funds available to counties, cities, and special purpose districts to repair, replace, or create infrastructure. This program is funded through federal and state money and subject to state and federal regulations; and WHEREAS, the PWB loan application process requires documentation of City Council approval of the submittal of a PWB loan application; and WHEREAS, as currently advertised, PWB construction loans have a 1.71% interest rate; and WHEREAS, if the City is selected as a recipient for the PWB construction loan, the loan agreement will be subject to City Council review and approval. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON: That the City Council of the City of Pasco hereby authorizes the submittal of the construction loan application to the Public Works Board for the Butterfield WTP Improvements Project. Be It Further Resolved, that this Resolution shall take effect immediately. Resolution – PWB Loan App for Butterfield WTP Improvements - 2 PASSED by the City Council of the City of Pasco, Washington, on this 3rd day of June, 2024. _____________________________ Pete Serrano Mayor ATTEST: APPROVED AS TO FORM: _____________________________ ___________________________ Debra Barham, CMC Kerr Ferguson Law, PLLC City Clerk City Attorneys