HomeMy Public PortalAbout004-2022 - Application for State Revolving Fund Representative RICHMOND STORMWATER MANAGEMENT BOARD
CITY OF RICHMOND,INDIANA
RESOLUTION 4-2022
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 Short Creek Interceptor Basin Improvements
Projects, including the replacement of the Short Creek Lift Station and Hayes Lift
Station, to meet state and federal regulations pertaining to sanitary sewer capacity
and potential sanitary sewer overflow (SSO), as well as RSD's continued
compliance with a court order from the Wayne Circuit Court with regards to
combined sewer overflows (CSO); and
WHEREAS, RSD will need to borrow funds to proceed with its stormwater, SSO 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; and
WHEREAS, The Department of Stormwater Management (D SM)may also be paying, through
its stormwater fees, for part of the costs and expenses associated with the required
work on West Side Interceptor Basin Project,but the loan application will be signed
under the name of the RSD and any funds received will be processed through RSD;
and
WHEREAS, The interest rates from the SRF loans, for SRF pooled loan funds as well as
SRF funds, are all lower than the interest rates that RSD, DSM or the City of
Richmond could obtain on the open market; and
WHEREAS, The application for the SRF loan and other related documents are to be signed by
Sue Miller, President of the Richmond Sanitary District Board of Commissioners
and a member of Board of Stormwater Management of the City of Richmond, as
the SRF loan will be in the name of the RSD even though monies from DSM may
also pay for part of the costs of the West Side Interceptor Basin Project for CSO
work.
NOW,THEREFORE,BE IT RESOLVED BY THE Board of Stormwater Management of the City
of Richmond that:
1. Sue Miller, President of the Richmond Board of Sanitary Commissioners of the
Richmond Sanitary District and a member of the Board of Department of
Stormwater Management of the City of Richmond,be, and is, authorized to make
application for an SRF Loan in the name of RSD and provide the State Revolving
Fund Loan Program such information, data, and documents pertaining to the loan
process as may be required, and otherwise act as the authorized representative of
the Richmond Sanitary District and the Department of Stormwater Management for
the purposes set forth herein.
2. The Board of Department of Stormwater Management of the City of Richmond
agrees to comply with the Indiana Finance Authority, State of Indiana and Federal
requirements as they pertain to the SRF.
3. That two copies of this resolution be prepared and submitted as part of the
Richmond Sanitary District's Preliminary Engineering Report and application of
the SRF loan,which SRF loan may involve monies from DSM.
All of which is adopted and approved this 13th day of December,2022.
,President
"dg 'ens
,Vice President
Aman ¶/ shi
_AO/ ,Member
Sue Miller
ATTEST: ( cording Secretary
ems Johns