Title
Authorizing and Providing for the Sale and Issuance of Two Series of General Obligation Sewerage System Promissory Notes, Levying Taxes for the Payment Thereof, and All Related Details
Body
WHEREAS, the State of Wisconsin Clean Water Fund Program permits the Milwaukee Metropolitan Sewerage District Commission (Commission) to obtain financial assistance for the construction of eligible wastewater pollution abatement projects; and
WHEREAS, the Commission intends to authorize, sell and issue general obligation sewerage system promissory notes for the Clean Water Fund Program project as described below; and
WHEREAS, the Commission has determined to sell the notes by private rather than public sale due to efficiencies of borrowing through the Clean Water Fund Program, including reduced issuance costs, flexible draw-down of principal and favorable interest rates.
NOW, THEREFORE, BE IT RESOLVED, by the Commission that the resolutions attached hereto and described below are hereby adopted.
1. “A Resolution Authorizing and Providing for the Sale and Issuance of up to $7,397,308 General Obligation Sewerage System Promissory Notes, Series 2019D, Levying Taxes for the Payment Thereof, and All Related Details” for Clean Water Fund Program Project Number 3251-01, consisting of replacements and improvements to valves and piping within the Interplant Sludge System pump stations, junction structures, and receiving stations at the Jones Island and South Shore facilities and includes ancillary structural, heating, ventilation, and air conditioning, electrical, and controls work.
2. “A Resolution Authorizing and Providing for the Sale and Issuance of up to $6,214,897 General Obligation Sewerage System Promissory Notes, Series 2019E, Levying Taxes for the Payment Thereof, and All Related Details” for Clean Water Fund Program Project Number 3253-01, consisting of upgrades to the Milorganite Dryer Burners at the Jones Island facility, which includes the installation of 600 feet of 12-inch high density polyethylene gas pipe between the landfill gas metering facility and the Jones Island facility, installation of landfill gas piping inside Jones Island facility and new burner systems capable of burning landfill gas and natural gas, and demolition of existing fuel oil firing components, equipment, piping, and controls.