Broken Arrow Municipal Authority
Meeting of: 10-03-17
To: Chairman and Authority Members
From: Finance Department
Title:
title
Approval of and authorization to execute Resolution No. 1058, a Resolution agreeing to file application with the Clean Water State Revolving Fund (CWSRF), with the loan proceeds being for the purpose of paying for costs related to acquisition, installation, and inspection of automated water meters and related appurtenances; approving the payment of an application fee; designating legal and financial professionals to assist in the application process and approving contracts for such services; authorizing the Chairman and Secretary to execute certain application documents; and containing other provisions related thereto
End
Background:
The attached resolution is for the application to the Oklahoma Water Resources Board for a Clean Water State Revolving Fund (“CWSRF”) loan for the purpose of acquiring funds to pay for Phase Two of an automated meter reading (AMR) system. This project is to purchase the meters and to install them using BAMA personnel. It is anticipated to take approximately seven years to complete all phases of the project. This loan would provide funds for the purchase of meters to be installed during the next two years of the project. The loan amount is anticipated not to exceed $2,100,000.
Cost: $500.00 Application Fee
Prepared By: Tom Cook Jr., Acting Finance Director
Reviewed By: Engineering Department
Utilities Department
Legal Department
Kenny Schwab, Assistant City Manager Operations
Russell Gale, Assistant City Manager Administration
Approved By: Michael L. Spurgeon, City Manager
Attachments: Resolution No. 1058
Legal Services Agreement
Financial Services Agreement
Recommendation:
Approval of and Authorization to Execute Resolution No. 1058.