New Franklin Ordinance 812: Engineer's report and revenue bonds of the Howard County Regional Water Commission

BILL NO._11.13.2023_

ORDINANCE NO. 812_

AN ORDINANCE APPROVING AN ENGINEER'S

REPORT AND APPROVING THE ISSUANCE OF

REVENUE BONDS BY THE HOWARD COUNTY

REGIONAL WATER COMMISSION.

WHEREAS, the City is a member of the Howard County Regional Water Commission (the

"Commission"); and

WHEREAS, the Commission desires to improve the Commission's water supply, water treatment

plant, and distribution system and appurtenant facilities for the production, distribution and utilization of

water (the "Project") and to finance the costs to design, acquire and construct the Project through the

issuance of its revenue bonds (the "Bonds"); and

WHEREAS, the City is a participant in the Project by virtue of the City's contract to be a member

of the Commission and its Amended and Restated Water Contract agreeing to purchase water from the

Commission dated April 14, 2021 between the Commission and the contracting municipalities (the

"Water Contract"); and

WHEREAS, the Commission has received and provided to the City a report from McClure,

independent consulting engineers (the "Engineer's Report") for the purpose of determining the economic

and engineering feasibility of the Project and of financing the Project through the issuance of the Bonds;

and

WHEREAS, a public hearing was held regarding the Engineer's Report in conformance with

Section 393.760 of the Revised Statutes of Missouri, as amended, notice of which was properly given and

at which interested parties were invited to appear and participate.

NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE

CITY OF NEW FRANKLIN, MISSOURI, AS FOLLOWS:

Section 1.

The Engineer's Report is hereby approved, but the City hereby limits its approval

to the project detailed in Addendum No. 1 totaling approximately $1,213,365. The Mayor's signature

below shall be evidence of the City's approval of the engineering report with said limitation.

Section 2.

The City hereby approves the issuance by the Commission of not to exceed

$1,250,000 principal amount of Bonds in order to finance costs related to the Project, the costs of issuing

the Bonds and the costs of funding any reasonably required reserve or replacement funds for the Bonds

Section 3.

The City hereby waives the provisions pursuant to Section 7.1(c) of the Water

Contract and agrees that all Purchasers, including the City, benefit from the Project in its entirely in an

amount proportionate to each Purchaser's share. The City further agrees that the Project is not required

for the sole purpose of complying with requirements of the State of Missouri, the Department of Natural

Resources, the United State Environmental Protection Agency, or any other federal or state regulatory

body.

Section 4.

Commission.

The City Clerk shall forward a certified copy of this Ordinance to the

PASSED by the Board of Aldermen of the City of New Franklin, Missouri and APPROVED by

the Mayor this 13th day of November, 2023.

ReVo

Mayor

[SEAL]

ATTEST:

melissa crowley

City Clerk