Title
Joint resolution authorizing County execution of documents necessary to secure an Illinois Environmental Protection Agency (IEPA) low interest loan for financing of the Des Plaines River Water Reclamation Facility Phases 2 and 3 Improvement Project.
Staff Summary
* Improvements are planned to the existing Des Plaines River Water Reclamation Facility to construct Biological Nutrient Removal and Biosolids Drying facilities, to meet new IEPA nutrient limits for flows discharged to the Des Plaines River.
* In order to reduce the financial impact of these improvements, a low interest IEPA loan in the amount of $31,488,130 is being pursued as the funding source.
* The loan will be paid back via the current Southeast Lake wholesale and retail sewer rate over the next 20 years for all users of the system.
* This resolution authorizes the Director of Public Works to sign appropriate loan application documents for submittal to the IEPA for a low interest loan.
Body
R E S O L U T I O N
WHEREAS, the County of Lake owns, operates and maintains the Des Plaines River Water Reclamation Facility (DPRWRF) serving the Southeast Lake Facilities Planning Area; and
WHEREAS, improvements and upgrades to the DPRWRF are necessary to serve the communities within the facilities planning area and to satisfy regulatory requirements of the Illinois Environmental Protection Agency; and
WHEREAS, the County has determined that it would be cost effective to finance the project to construct Biological Nutrient Removal and Biosolids Drying facilities through an IEPA low interest loan with debt service to be paid through the current rate of the Southeast Lake customers; and
WHEREAS, the application for the IEPA low interest loan contains several documents which must be executed by the County; and
WHEREAS, authorization to execute the IEPA low interest loan application documents must be authorized by Resolution of this County Bo...
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