City Council Minutes 2003 02 18 - Laserfiche WebLink

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Louisville City Council Meeting February 18, 2003 Page 6 COUNCIL COMMENTS Sisk asked Finance Director Laus to inform members of Council what was discussed at the joint Finance and Water Committee meeting. Laus explained the City combined both the water and sewer into one enterprise fund. As part of the agreement, the City will have to pledge one or both sources of revenue. Staff is recommending pledging both funds, which include water users and tap fees. The infrastructure project is a state requirement for Authority programs, with no dollar limit. She noted the discussion at the joint Water and Finance Committee centered on the recycled raw metering north project. She will contact the Authority about the flexibility in the application, which would allow different projects at another time. Sisk called for public comments. There were no comments. MOTION: Levihn moved that Council authorize the submittal of a funding application to the Colorado Water Resources and Power Development Authority with the following conditions: Pledge both revenue streams and Staff resolve the questions relative to the infrastructure, seconded by Van Pelt. Van Pelt offered a friendly amendment that the motion includes the interim funding. Laus asked Council to direct Staff to prepare an ordinance as required. Light concurred. Simmons requested the principal amount on the application. Laus responded $12.5 million dollars. Sisk explained Staff has calculated pledging that dollar amount would not endanger the City. Laus agreed and noted rates may have to be adjusted in the future, to maintain the coverage requirements. VOTE: All in favor. PURSUANT TO SECTION 2.92.010 OF THE LOUISVILLE MUNICIPAL CODE, NOTICE IS HEREBY GIVEN THAT AT ITS MARCH 4, 2003 REGULAR MEETING, THE LOUISVILLE CITY COUNCIL WILL MAKE A FINAL DETERMINATION AS TO THE PURCHASE FOR RIGHT-OF-WAY PURPOSES FOR THE HIGHWAY 42/96TM STREET CONNECTION PROJECT, OF FEE TITLE TO PARCELS OF LAND TOTALING APPROXIMATELY 5.6 ACRES, MORE OR LESS, AND LOCATED ON THE SOUTHWEST SIDE OF HIGHWAY 42, NORTH OF LOCKE STREET Sisk called for Staff presentation. Public Works Director Tom Phare reported the proposed State Highway 42/South 96th road improvements would traverse through property owned by the Mayhoffer family. 6