HomeMy Public PortalAbout002-2012 Stormwater Bd - SRF designated autRICHMOND STORMWATER MANAGEMENT BOARD
RESOLUTION 2 -2012
RESOLUTION AUTHORIZING THE APPLICATION FOR STATE REVOLVING FUND
(SRF) AND DESIGNATING AUTHORIZED REPRESENTATIVE
WHEREAS, The Richmond Sanitary District (RSD) of the City of Richmond, Indiana, has plans to
proceed for required work on the East Side Interceptor Replacement, Phase 3, to meet
state and federal regulations pertaining to stormwater and combined sewer overflow
(CSO), as well as RSD's continued compliance with a court Order from the Wayne
Circuit Court; and
WHEREAS, RSD will need to borrow funds to proceed with its stormwater and CSO work, and will
need to apply to the State Revolving Fund (SRF) loans for a grant for reduced interest
rate on its loan, with the requirement from the SRF that monies saved from any reduced
interest rate be applied to Brownfield remediation work in the City of Richmond; and
WHEREAS, The Department of Stormwater Management will also be paying, through it stormwater
fees, for part of the costs and expenses associated with the required work on the East Side
Interceptor Replacement, Phase 3; and
WHEREAS, The interest rates from the SRF loans, for SRF pooled loan funds as well as SRF funds,
are both lower than the interest rates that RSD or the City of Richmond could obtain on
the open market; and
WHEREAS, The deadline for applications for SRF funds is June 30, 2012, but RSD will need to apply
as soon as possible in order to compile the information required by the SRF to determine
if the RSD will be awarded a grant for interest rates lower than available on the market;
and
WHEREAS, The application for the SRF loan is to be signed by Richard W. Bodiker, President of the
Richmond Sanitary District, with the Richmond Common Council having first given its
approval and authorization for Richard W. Bodiker to sign the application on behalf of
the City of Richmond because the Brownfield remediation work is not under the
jurisdiction of RSD but is a project of, and work on behalf of, the City of Richmond.
NOW, THEREFORE, BE IT RESOLVED BY THE Board of Stormwater Management of the City of
Richmond, Indiana, that:
1. Richard W. Bodiker, President of the Richmond Board of Sanitary Commissioners of the
Richmond Sanitary District, be authorized to make application for an SRF loan for
stormwater and CSO for Richmond Sanitary District, which loan will include reduced
interest rates with the City being required to spend the monies saved from the reduced
interest rate on Brownfield remediation work in the City of Richmond, and to provide the
SRF loan program such information, data and documents pertaining to loan processing as
may be required, and otherwise act as the authorized representative of the Richmond
Sanitary District and the City of Richmond.
2. The City of Richmond and Richmond Sanitary District agree to comply with the Indiana
Finance Authority, State of Indiana and Federal requirements as they pertain to the SRF.
That two copies of this Resolution be prepared and submitted as part of the Richmond
Sanitary District's application for the SRF loan.
All of which is adopted and approved this _ 24 th _ day of April, 2012.
S/S Sue Miller _ President
Sue Miller
S/S Gil Klose
Gil Klose
Vice President
S/S Richard W. Bodiker Member
Richard Bodiker
ATTEST: S/S Denise Johnson Recording Secretary
Denise Johnson