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Pertaining to a 2025 Budget Amendment No.7 in multiple accounting units to reflect the acceptance of $35,600,000 from MNPFA and establishing spending and financing for the 2024 Urgent Lead projects budgets in the Water Utility Fund.
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WHEREAS, at its March 8, 2022 meeting, the Board of Water 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, at its April 16th, 2024 meeting, the Board directed staff to apply to the Minnesota Public Facilities Authority (“MNPFA”) for funding in an amount of up to $35M to finance the replacement of approximately 2,500 lead service in the 2025 construction season; and
WHEREAS, at its August 20th, 2024 meeting, the Board approved resolution 24-1252 accepting the $35M funding from MNPFA; and
WHEREAS, the funding was increased by $600,000 due to receiving additional funds related to urgent lead service line replacement and will be apportioned as approximately $24,020,000 in grant funding for private property replacements and $11,580,000 for publicly-owned portions financed via a grant anticipation note from the MNPFA, such debt service to be paid in full via a separately awarded grant from the MNPFA; and
WHEREAS, at its August 12th, 2025 meeting, the Board approved concurring resolution 25-1237 providing the issuance of two Taxable Grant Anticipation Notes in a combined original aggregate principle amount of not to exceed $11,580,000 in addition to confirming the General Manager to authorize subsequent documents, certificates or other instruments (including the 2025 Project Order); and
WHEREAS, the Board adopted its 2025 Budget in September 2024; and SPRWS wishes to budget said additional Funds and amend the 2025 financing and spending budget; now, therefore be it
RESOLVED, that the Board of Water Commissioners does hereby amend the 2025 budget.