TO: Mayor and Members of City Council
THRU: Timothy L. Bryant, CEO/General Manager
Fayetteville Public Works Commission
FROM: Fayetteville Public Works Commission
DATE: November 27, 2023
RE:
Title
PWC - Resolution to Accept a State Loan Offer Under the Safe Drinking Act Amendments of 1996
end
COUNCIL DISTRICT(S):
Council District(s)
All
b
Relationship To Strategic Plan:
High Quality Built Environment
Executive Summary:
The Fayetteville Public Works Commission has approved a resolution to accept a State Loan Offer Under the Safe Drinking Water Act Amendments of 1996 and requests the City Council to adopt a similar resolution accepting the State Loan Offer under the Safe Drinking Water Act Amendments of 1996.
Background:
In October 2023, the North Carolina Department of Environmental Quality (DEQ) offered PWC an amendment to increase the State Loan for the P.O. Hoffer WTP/Glenville Lake WTP Reliability Improvements Project by $5,000,000 for a total loan value of $15,719,300 to the terms of 20 years, 1.02% interest and 2% closing fee. To accept the loan offer, PWC and the City of Fayetteville (City) must adopt a resolution accepting the loan in the form provided by DEQ.
Issues/Analysis:
N/A
Budget Impact:
N/A
Options:
N/A
Recommended Action:
The Fayetteville Public Works Commission recommends the Fayetteville City Council adopt “Resolution of the City of Fayetteville, North Carolina to Accept a State Loan Offer Under the Safe Drinking Water Act Amendments of 1996” at its November 27, 2023, City Council session.
Attachments:
PWC Resolution PWC2023.40 - Resolution to Accept a SLO Under the Safe Drinking Water Act Amend. of 1996; City Resolution - Resolution to Accept a State Loan Offer Under the Safe Drinking Water Amend…