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Pertaining to an application to the Minnesota Public Facilities Authority for a loan and/or grant of up to $45,000,000 to partially fund 2027 construction costs for the Lead Free SPRWS Program.
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WHEREAS, at its March 8, 2022 meeting, the Board of Water Commissioners of the City of Saint Paul (the “Board”) directed staff to initiate a 10-year enhanced lead service line replacement plan (“Lead Free SPRWS”); and
WHEREAS, the Board has been provided an opportunity to make application to the Minnesota Public Facilities Authority for a loan and/or grant from the Drinking Water Revolving Fund to partially finance Phase 6 of Lead Free SPRWS for a value of up to $45,000,000; now, therefore, be it
RESOLVED, that the Board is hereby applying to the Minnesota Public Finance Authority for a loan and/or grant from the Drinking Water Revolving Fund for Phase 6 of Lead Free SPRWS; and be it
FURTHER RESOVED, that the Board estimates the MPFA-Financed amount to be $45,000,000; and be it
FINALLY RESOLVED, that the Board has the legal authority to apply for the loan and/or grant, and the financial, technical, and managerial capacity to repay the loan and ensure proper construction, operation, and maintenance of Phase 6 of Lead Free SPRWS.