DATE: November 6, 2015
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
SUBJECT:
title
Discussion of Financing for Water Projects
body
Purpose
The purpose of this memo is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning the financing of water and wastewater plant improvements.
Background
With the award of the construction contract for improvements at the water treatment plant, and with the upcoming bid process for expansion and improvements at the wastewater plant, a plan for financing the projects is starting to fall in place.
At previous committee meetings, several options were discussed. Additional information about the State Revolving Fund loans will be provided. Attached are exhibits showing the SRF loan rates and the forecast for interest rates overall.
Financial Impact
No action is required at this time.
Recommendation
rec
Staff recommends pursuing, to the extent possible, a series of loans from the State Revolving Fund in conjunction with other financing vehicles.