RES 2024-38 Drinking Water Revolving Fund Loan Application to the MPFACITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2024-38
DRINKING WATER REVOLVING FUND LOAN APPLICATION
TO THE
MINNESOTA PUBLIC FACILITIES AUTHORITY
WHEREAS, The City is progressing with the Water Treatment Improvements at Wellhouse 4 project, which was a key
component of the Drinking Water Master Plan (the Plan) supporting long term goals and implementation phasing to deliver
improved drinking water and to meet growth expectations; and
WHEREAS, the design phase for the Water Treatment Improvements at Wellhouse 4 project is nearing completion; and
WHEREAS, the City of Otsego intends to move forward with the construction phase in 2024; and
WHEREAS, the City of Otsego will be submitting a complete application package to the Minnesota Public Facilities Authority.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO, MINNESOTA:
1. That the City of Otsego is hereby applying to the Minnesota Public Facilities Authority for a loan from the Drinking
Water Revolving Fund for improvements to its municipal drinking water system as described in the loan application.
2. That the City of Otsego estimates the loan amount to be $7,143,700, or the as -bid cost of the project.
3. That the City of Otsego has the legal authority to apply for the loan, and the financial, technical, and managerial
capacity to repay the loan and ensure proper construction, operation, and maintenance of the project for its design
life.
4. That the City of Otsego hereby expresses its official intent to use the proceeds of this loan to reimburse certain
expenditures made prior to the issuance of its general obligation revenue note to the Public Facilities Authority.
ADOPTED by the Otsego City Council this 28th day of May, 2024.
MOTION BY: Moores
SECONDED BY: Dahl
IN FAVOR:Stockamp, Dahl, Dunlap, Goede, and Moores
OPPOSED: none
CITY OF OTSEGO
ATTEST:
Audra Etzei;tity Clerk
2