Title
Incorporated County of Los Alamos Code Ordinance No. 687, An Ordinance Authorizing the Incorporated County of Los Alamos to Enter Into a Loan Agreement and Promissory Note With the New Mexico Environment Department for the Purpose of Obtaining Loan Funds for the Construction of a New Wastewater Treatment Facility, Declaring the Necessity for the Loan, Restricting the Use of the Loan Funds Solely for the Project, and Pledging Loan Will be Payable from the Revenues of the Wastewater System; and Incorporated County of Los Alamos Resolution No. 18-18, a Resolution Authorizing the Utilities Manager to Execute Documents With the New Mexico Environment Department on Behalf of Los Alamos County Relating to the White Rock Waste Water Treatment Plant, Project Number CEWRF083 and Authorizes the Designation of Official Representatives and Signatory Authorities
Recommended Action
I move that the Board of Public Utilities approve Incorporated County of Los Alamos Code Ordinance No. 687 as presented and forward to Council for adoption. I further move that the Board of Public Utilities approve the related Resolution No. 18-18 authorizing the assignment of authorized officer(s) and Agent(s) and forward to Council for approval.
Staff Recommendation
Staff recommends the motion be passed as presented.
Body
For the past two or more years the DPU and BPU have been discussing and planning for the necessary replacement of the White Rock Treatment Facility, which, built in 1965, is already operating beyond its design life expectancy. Several actions have been taken to ensure the utility is financially capable of proceeding with this badly needed project.
In January/February 2018 the BPU and Council enacted an ordinance and resolution authorizing transfer of excess cash reserves from the Gas fund to the Wastewater fund. $2.5 million was transferred and in February those funds were used to pay down the balance of the outstanding loan that was used for construction of the...
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