City of Warsaw Sewage Works Adoption
November 6, 2018 at 1:45 p.m.
By -
Notice is hereby given that the Common Council of the City of Warsaw, Indiana (the “City”), on November 5, 2018, adopted an Ordinance (the “Ordinance”) entitled “An Ordinance Authorizing the Acquisition, Construction and Installation of Certain Improvements to the Sewage Works System of the City of Warsaw, Indiana, the Issuance of Revenue Bonds to Finance the Cost thereof, the Collection, Segregation and Distribution of the Revenues of such System, the Safeguarding of the Interests of the Owners of such Revenue Bonds, and Other Matters Connected therewith, Including the Issuance of Notes in Anticipation of such Bonds, and all Matters Related thereto.”
The Ordinance authorizes the City to undertake the Project which consists of expanding the design average flow of the wastewater treatment plant from 3.9 MGD to 6.0 MGD and includes new grit removal tanks; new primary clarifiers and control building; a new anaerobic selector tank; existing oxidation ditch modifications; a new final clarifier and sludge pump building; new RAS and WAS pumps; modification of existing final clarifiers; new UV disinfection system; new anaerobic digesters and control building; modification of existing aerobic digesters to sludge holding tanks; new sludge dewatering equipment; new chemical feed building and feed system for phosphorus removal; new vehicle storage garage; associated process and yard piping and valves; relocation of the emergency power generator; HVAC, electrical; instrumentation and controls; mechanical; paving; landscaping; and site work, all in accordance with the Engineering Contract Documents and Specifications, (collectively, the “Project”). The estimated costs of the Project are $31,701,000.
The Ordinance directs that all or a portion of the costs of the Project be financed by (i) the issuance of revenue bonds (the “Bonds”) in an amount not to exceed $31,700,000 and (ii) bond anticipation notes (“BANs”) in an amount not to exceed $31,701,000. The Bonds will be payable at an interest rate not to exceed 5.00% per annum to be determined by bidding or, alternatively, the Bonds may be sold to the Indiana Finance Authority or the Indiana Bond Bank. The Bonds will mature semiannually on January 1 and July over a period ending no later than January 1, 2040 (except that any bonds sold to the Indiana Finance Authority as part of the SRF Program (as such term is defined in the Ordinance) may have a maximum term not to exceed 35 years after the date of issuance of the Bonds). The Ordinance provides that the Bonds shall be special revenue obligations of the City payable on a parity with the Prior Bonds (as defined in the Ordinance) from and secured by an irrevocable pledge of and constituting a first charge upon all of the net revenues derived from the City’s sewage System, and such Bonds shall not constitute an indebtedness of the City within the meaning of the provisions and limitations of the constitution of the State of Indiana. The Ordinance sets forth provisions governing the Bonds including, without limitation, the final maturity of the Bonds, redemption rights, transfer and exchange privileges, provisions concerning the sale of the Bonds, the collection, segregation and distribution of the revenues of the sewage works, defeasance provisions, provisions concerning the issuance of additional bonds, and covenants of the City relating to the Bonds. The Ordinance also provides that the BANs shall be issued at an interest rate not exceeding 5.0%, that the BANs shall mature no later than five (5) years after their date of delivery and that the proceeds of the Bonds shall be pledged by the City to the repayment of the BANs.
A copy of the Ordinance is on file in the office of the Clerk-Treasurer of the City located in City Hall, 102 South Buffalo Street, Warsaw, Indiana, and is available for inspection by any interested parties during regular business hours. Objections to the Project or the Bonds may be filed in the time and manner provided by Indiana Code Section 36-9-23-12.
Dated the 8th day of November, 2018.
CITY OF WARSAW, INDIANA
By: Clerk-Treasurer
11-8 hspaxlp
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Notice is hereby given that the Common Council of the City of Warsaw, Indiana (the “City”), on November 5, 2018, adopted an Ordinance (the “Ordinance”) entitled “An Ordinance Authorizing the Acquisition, Construction and Installation of Certain Improvements to the Sewage Works System of the City of Warsaw, Indiana, the Issuance of Revenue Bonds to Finance the Cost thereof, the Collection, Segregation and Distribution of the Revenues of such System, the Safeguarding of the Interests of the Owners of such Revenue Bonds, and Other Matters Connected therewith, Including the Issuance of Notes in Anticipation of such Bonds, and all Matters Related thereto.”
The Ordinance authorizes the City to undertake the Project which consists of expanding the design average flow of the wastewater treatment plant from 3.9 MGD to 6.0 MGD and includes new grit removal tanks; new primary clarifiers and control building; a new anaerobic selector tank; existing oxidation ditch modifications; a new final clarifier and sludge pump building; new RAS and WAS pumps; modification of existing final clarifiers; new UV disinfection system; new anaerobic digesters and control building; modification of existing aerobic digesters to sludge holding tanks; new sludge dewatering equipment; new chemical feed building and feed system for phosphorus removal; new vehicle storage garage; associated process and yard piping and valves; relocation of the emergency power generator; HVAC, electrical; instrumentation and controls; mechanical; paving; landscaping; and site work, all in accordance with the Engineering Contract Documents and Specifications, (collectively, the “Project”). The estimated costs of the Project are $31,701,000.
The Ordinance directs that all or a portion of the costs of the Project be financed by (i) the issuance of revenue bonds (the “Bonds”) in an amount not to exceed $31,700,000 and (ii) bond anticipation notes (“BANs”) in an amount not to exceed $31,701,000. The Bonds will be payable at an interest rate not to exceed 5.00% per annum to be determined by bidding or, alternatively, the Bonds may be sold to the Indiana Finance Authority or the Indiana Bond Bank. The Bonds will mature semiannually on January 1 and July over a period ending no later than January 1, 2040 (except that any bonds sold to the Indiana Finance Authority as part of the SRF Program (as such term is defined in the Ordinance) may have a maximum term not to exceed 35 years after the date of issuance of the Bonds). The Ordinance provides that the Bonds shall be special revenue obligations of the City payable on a parity with the Prior Bonds (as defined in the Ordinance) from and secured by an irrevocable pledge of and constituting a first charge upon all of the net revenues derived from the City’s sewage System, and such Bonds shall not constitute an indebtedness of the City within the meaning of the provisions and limitations of the constitution of the State of Indiana. The Ordinance sets forth provisions governing the Bonds including, without limitation, the final maturity of the Bonds, redemption rights, transfer and exchange privileges, provisions concerning the sale of the Bonds, the collection, segregation and distribution of the revenues of the sewage works, defeasance provisions, provisions concerning the issuance of additional bonds, and covenants of the City relating to the Bonds. The Ordinance also provides that the BANs shall be issued at an interest rate not exceeding 5.0%, that the BANs shall mature no later than five (5) years after their date of delivery and that the proceeds of the Bonds shall be pledged by the City to the repayment of the BANs.
A copy of the Ordinance is on file in the office of the Clerk-Treasurer of the City located in City Hall, 102 South Buffalo Street, Warsaw, Indiana, and is available for inspection by any interested parties during regular business hours. Objections to the Project or the Bonds may be filed in the time and manner provided by Indiana Code Section 36-9-23-12.
Dated the 8th day of November, 2018.
CITY OF WARSAW, INDIANA
By: Clerk-Treasurer
11-8 hspaxlp
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