Title
Amending the 2022 Saint Paul Regional Water Services budget resulting in an increase in spending and financing in the amount of $58,000,000 for updated estimates for the McCarron’s Treatment Plant Improvement Project.
Body
WHEREAS, in its 2022 budget, the Board of Water Commissioners authorized spending for the McCarron’s Water Treatment Plant Improvement Project; and
WHEREAS, the 2022 Adopted Budget included financing and spending amounts for the McCarron’s Water Treatment Plant Improvement Project in the amount of $116,000,000, and an additional $58,000,000 is required to fully fund the 2022 work for the project; and
WHEREAS, the total amount needed in 2022 is an increase of $58,000,000 which will be funded by additional debt issuance; and
WHEREAS, the Board of Water Commissioners approved RES 22-732l amendment to the 2022 Adopted Budget at the May 10, 2022 Water Board Meeting; therefore, be it
RESOLVED, that the City Council of the City of Saint Paul, upon recommendation of the Mayor does hereby recommend amendment to its 2022 Adopted Budget, resulting in an increase of spending and financing in the amount of $58,000,000, resulting in an amended 2022 budget of $250,253,414,resulting in an amended project Budget of $225,000,000 the details of such are attached, and does recommend approval by the Saint Paul City Council.
Financial Analysis
See Attachment.