DATE: November 19, 2015
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
SUBJECT:
title
Report on Status of Financing for Water and Wastewater Projects
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Purpose
The purpose of this memo is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning the financing of improvements to the water treatment plant, the expansion of the wastewater plant, addition of biosolids treatment and SCADA projects.
Background
City staff is working with our financial advisory firm, our bond counsel, the office of the Comptroller, and the State Revolving Loan Fund, to develop the most cost effective method of financing the approved water and wastewater projects.
Staff will give an update on the status of potential bond issues and borrowings from the various funding organizations.
Financial Impact
Financial impact is being determined in the research process.
Recommendation
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Staff has no final recommendation at this time