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0305 PAGE 211 RESOLUTION NO. 305 - 82 A RESOLUTION CONCERNING THE CONSTRUCTION OF NEW SEWAGE TREATMENT FACILITIES AND EXPRESSING THE FIRM INTENTION OF THE CITY TO CONSTRUCT SUCH FACILITIES IN FEDERAL FISCAL YEAR 1984 AND FOR OTHER PURPOSES: WHEREAS, the City is bound by the Environmental Protection Agency (EPA) to construct new sewage facilities; and WHEREAS, the Jacksonville Sewer Commission has applied for EPA Construction Grant funds to partially fund the construction of such facilities; and WHEREAS, the City Council has previously dedicated the sum of $200,000.00 for the calendar year 1982, and the sum of $400,000.00 for each calendar year of 1983,1984, and 1985; and WHEREAS, the United States Air Force has previously stated its intent to participate in its fair share of the cost of construction of such facilities; and WHEREAS, the City recognizes the fact that EPA Construction Grant funds may or may not be available in fiscal year 1984; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF JACKSONVILLE, ARKANSAS, that: Section 1: The City Council expresses its firm intention and commitment to construct new sewage treatment facilities beginning in fiscal year 1984, and proposes to fund such construction with any and all menas available, including United States Air Force funds, sales tax revenue, operating revenue from the Jacksonville Wastewater Utility, and the proceeds from revenue bonds, whether or not EPA PA Grants funds are available. Section 2: This Resolution being necessary for the immediate preservation of the public health, safety, welfare and morale of the citizens of the City of Jacksonville, Arkansas, an emergency is hereby declared to exist and this Resolution shall have full force and effect immediately after its passage. APPROVED AND ADOPTED this 2nd day of December , 1982. MAYOR ATTEST : ,,,c e-W CITY CLERK APPROVED AS TO FORM: / /' t* C TY ATTORNEY II FUNDS REQUIRED AND POSSIBLE SOURCES FOR FUNDS TO CONSTRUCT SEWAGE TREATMENT FACILITIES. (PARTIAL PROJECT) PROJECT COST: $7,380,000 *ASSUME: Hot Springs deobligation funds available. LRAFB SHARE $ 2,370,000 EPA SHARE 3,760,000 CITY SHARE 1,250,000 TOTAL $ 7,380,000 CITY SHARE: County Sales Tax (1982 -1985) $ 1,400,000 Utility Construction Fund 200,000 Interest (Approximately) 100,000 Amount available $ 1,700,000 Amount required 1,250,000 To be applied to Second Phase of Project $ 450,000 *ASSUME: Hot Springs deobligation funds not available. LRAFB $ 2,370,000 CITY SHARE 5,010,000 TOTAL $ 7,380,000 CITY SHARE: County Sales Tax (1982 -1985) $ 1,400,000 Utility Construction Fund 200,000 Interest (Approximately) 100,000 Amount available $ 1,700,000 Amount required 5,010,000 Bond Issue or additional Sales Tax Monies ($ 3,310,000) NOTE: If revenue bonds are issued, approximately $690,000 per year will be required for debt service, assuming 11% bonds for 15 years at 1.5 coverage