NOTICE OF DETERMINATION TO CONSTRUCT AND FINANCE ADDITIONS AND IMPROVEMENTS TO THE
SILVER LAKE SEWAGE WORKS AND THE ADOPTION AND PURPORT OF THE ORDINANCE AUTHORIZING SAME
Property owners, ratepayers and other interested parties in or served or to be served by the sewage works of the Town of Silver Lake, Indiana ("Town") are hereby notified that on February 14, 2018, the Town Council adopted Ordinance No. 02-01-18' ("Ordinance"), thereby determining to construct additions and improvements to the Town's sewage works consisting of:
Wastewater and Stormwater Infrastructure Improvements: The Project consists of 3760 LF of 6" force main, air release station and metering manhole; rehabilitation of an existing lift station with new pumps, piping, valves, controls and electrical work; 1014 LF of new storm sewers along with and including pipes, inlets, manholes, drainage swales and headwalls; and all other necessary appurtenances and ancillary work associated with these Project items.
The total estimated cost of the project is $1,150,000. The Ordinance further directed that a portion of the cost of the project be financed by the issuance of revenue bonds in an amount not to exceed $650,000 which bonds will be payable solely from the net revenues of the sewage works. The Town expects to be awarded an OCRA grant in the amount not to exceed $500,000. The bonds will be sold at a private sale to the Indiana Finance Authority, at an interest rate not to exceed 4% per annum, and will mature semiannually over a period ending no later than twenty years after substantial completion of the project. Copies of the plans, specifications, cost estimates and of the Ordinance are on file in the office of the Clerk-Treasurer and are available for inspection by any interested parties during regular business hours. Objections to said project and the bonds may be filed in the time and manner provided by Indiana Code, Title 36, Article 9, Chapter 23.
