Title
Resolution Regarding Approval of Series Ordinance Authorizing Issuance and Sale of Sewage Disposal System Revenue Bonds in an Aggregate Amount Not to Exceed $108,988,000 (Ordinance 2025-04) for FY 2025 Clean Water State Revolving Fund (CWSRF) Projects
Body
Agenda of: June 25, 2025
Item No.: 2025-164
Amount: Not to Exceed $108,988,000
TO: The Honorable
Board of Directors
Great Lakes Water Authority
FROM: Suzanne R. Coffey, P.E.
Chief Executive Officer
Great Lakes Water Authority
DATE: June 25, 2025
RE: Resolution Regarding Approval of Series Ordinance Authorizing Issuance and Sale of Sewage Disposal System Revenue Bonds in an Aggregate Amount Not to Exceed $108,988,000 (Ordinance 2025-04) for Fiscal Year (FY) 2025 Clean Water State Revolving Fund (CWSRF) Projects
MOTION
Upon recommendation of Nicolette N. Bateson, Chief Financial Officer (CFO) and Treasurer, the Board of Directors (Board) of the Great Lakes Water Authority (GLWA), approve a resolution for the Series Ordinance Authorizing Issuance and Sale of Sewage Disposal System Revenue Bonds in an Aggregate Amount Not to Exceed $108,988,000 as presented, and authorizes the Chief Executive Officer (CEO) to take such other action as may be necessary to accomplish the intent of this vote.
BACKGROUND
GLWA and the Detroit Water and Sewerage Department (DWSD) were awarded low-interest funding for sewer system improvement projects through the Michigan Department of Environment, Great Lakes, and Energy (EGLE) FY 2025 CWSRF program. The regional and local sewer system projects are both supported by this series ordinance (Series 2025 SRF-1/2: with 1 representing the GLWA Oakwood and Leib project and 2 representing the DWSD Sewer Rehabilitations project) in an aggregate amount of $108,988,000.
The calculation of this Series Ordinance not to exceed (NTE) amount includes a 10% loan financing contingency to allow for fluctuations in the final SRF award amount. The scope of ...
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