Title
Updating a Previous Request for the City of Saint Paul, Minnesota to Issue and Sell Water Revenue Bonds for the WTP Modernization Project.
Body
WHEREAS, Saint Paul Regional Water Services (the “Utility”) provides safe drinking water to the residents of the City of Saint Paul, Minnesota (the “City”) and the surrounding municipalities; and
WHEREAS, the Board of Water Commissioners of the City of Saint Paul, the governing body of the Utility (the “Board”), has identified certain water improvement and rehabilitation projects as set forth in the Water Capital Improvement Plan for the years 2020 through 2026 generally described as McCarron’s Treatment Plant Improvements, including but not limited to financing the construction and equipping of new softening and settling facilities, new chemical handling facilities, new recarbonation facilities, new ozone facilities, and a new laboratory and operations space (the “WTP Modernization Project”) that will require the incurrence of a tax-exempt bonds or other debt obligation for funding of such WTP Modernization Project; and
WHEREAS, the Board adopted RES 26-246 on February 10, 2026, giving preliminary approval to the issuance of up to $7,500,000 for the WTP Modernization Project and requesting the City issue such debt in the form of a water revenue note; and
WHEREAS, staff of the Utility is recommending to the Board that the amount of debt approved and requested of the City to issue to support the completion of the WTP Modernization Project be increased from $7,500,000 to $10,000,000; and
WHEREAS, it is proposed that the City Council of the City adopt a resolution at a later date authorizing the issuance of one or more series of revenue notes, in an aggregate amount not to exceed $10,000,000 anticipated to be sold in a direct placement to the Minnesota Public Facilities Authority (the “PFA”) in 2026 to provide additional funding, in addition to the more than $225,000,000 previously issued for the WTP Moderniza...
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