AN ORDINANCE relating to Seattle Public Utilities; authorizing the Director of Seattle Public Utilities to accept a loan from the Washington State Public Works Board and to execute, deliver, and perform corresponding agreements; and ratifying and confirming certain prior acts.
Thank you. The bill passed in was sign that agenda. Item number 13. Agenda item 13. Constable 118775 relating to the Seattle Public Utilities Committee recommends the bill pass. Councilmember Herbold. Thank you. This ordinance authorizes Seattle Public Utilities to accept a loan from the Washington State Public Works Board for the Morse Lake Pump Plant Project in the Cedar River Municipal Watershed near North Bend. The Public Works Board administers the Drinking Water Revolving Loan Fund, providing low interest loans to projects to finance two projects in order to finance to provide financing that increases public health protection. Seattle Public Utilities has applied for revolving loan fund loans on previous occasions, including 12.1 million in 2015. Early in 2016, Seattle Public Utilities applied for and was granted additional loan funding in the amount of 6 million for the Morse Lake Pump Project. The loan rate is 1.5%, and the loan term is 20 years, saving the utility of about 1.1 million in present value borrowing costs. Thank you. Can see her comments. Please call the role on the passage of the bill. Herbold II Johnson Juarez. I O'Brien. Sergeant Bagshaw. Burgess Gonzalez. President Herald. Hi nine in favor and unopposed. Bill passed and Sherwood Senate. Please read the report of the Gender Equity Safe Communities and New Americans Committee.