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2013-28 AUTHORIZING THE CITY TO BORROW FUNDS FROM THE WATER POLLUTION CONTROL REVOLVING LOAN FUND
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2013-28 AUTHORIZING THE CITY TO BORROW FUNDS FROM THE WATER POLLUTION CONTROL REVOLVING LOAN FUND
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Last modified
8/13/2015 3:48:39 PM
Creation date
8/13/2015 3:48:37 PM
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Resolution/Ordinance
Res Ord Num
2013-28
Res Ord Title
AUTHORIZING THE CITY TO BORROW FUNDS FROM THE WATER POLLUTION CONTROL REVOLVING LOAN FUND
Department
Public Works
Approved Date
4/15/2013
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ILLINOIS ENVIRONMENTAL PROTECTION AGENC <br /> 1021 NORTH GRAN DAVENUEEAST,P.O.Box 19276,SPRINGFIELD,ILLINOIS6 94-9276 • (217)782 9 <br /> PAT QUINN,GOVERNOR LISA BONNET,DIRECTOR <br /> 217/782-2027 <br /> MAY 14 2013 <br /> Mr. Ryan P. McCrady <br /> Manager, City of Decatur, IL <br /> #1 Gary K. Anderson Plaza <br /> Decatur, Illinois 62523-1196 <br /> Re: City of Decatur/L17-4873 <br /> UCS - Final Approval <br /> Dedicated Source of Revenue - Final Approval <br /> Dear Mr. McCrady: <br /> We have reviewed the enacted Sewer Use Ordinance, along with the User Charge System <br /> currently in place and other financial information provided by the City, and it appears that the <br /> User Charge System for the City is producing sufficient revenue toe sure that adequate <br /> operation, maintenance and replacement funds are available to provide service on a continuing <br /> basis. The review of your enacted Sewer Use Ordinance and User Charg System is hereby <br /> approced. <br /> i <br /> In addition, it appears that the dedicated source of revenue will provide a ntinuing source of <br /> revenue adequate to make the loan repayments for the term of the loan. T e Ordinance, which <br /> authorizes $11,700,000 in debt as evidenced by Ordinance No. 2013-28 ad pted April 15, 2013 <br /> is also approved. The amount financed, including principal and constructi n period interest, is <br /> limited to the ordinance amount. <br /> This approval of the review of your User Charge System and the dedicated s urce of revenue for <br /> loan repayment does not constitute an expressed or implied approval df your method for <br /> generating revenue to defray local capital costs not associated with the loan. If you have <br /> questions regarding any of the above, please feel free to contact your Proj ct Manager, Blake <br /> Harris, at the telephone number indicated above. <br /> Sincerely, <br /> 2013 <br /> J. Geoffrey Andres, Manager <br /> Infrastructure Financial Assistance Section <br /> Bureau of Water <br /> JGA:COM DOCS:Decatur WPC DR UC L174873 05082013 <br /> 4302 N.Main St.,Rockford,IL 61 103(815)987-7760 9511 Harrison St.,Des Plaines,IL 60016(847)294-4000 <br /> 595 S.State,Elgin,IL 60123(847)608-3131 5407 N.University St.,Arbor 113,Peoria,IL 61614(309)693-5462 <br /> 2125 S.First St.,Champaign,IL 61820(217)278-5800 2309 W.Main St.,Suite 116,Marion,IL 62959(618)993-7200 <br /> 2009 Mall St.,Collinsville,IL 62234(618)346-5120 100 W.Randolph,Suite 10-303,Chicago,IL 60601 (312)814-6026 <br /> PLEASE PRINT ON RECYCLED PAPER <br />
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