The Finance Committee is meeting 05/22/2023 at 5:30PM.
They are being asked to approve a budget amendment recording a Hazardous Materials Fund purchase of vehicles from the Central Equipment Agency.
They will also be voting on the request to award the city’s 2023 Masonry Repairs Project contract to Masonry Restoration Inc for a project total not to exceed $177,675. This project would be to replace damaged bricks, patch holes, replace mortar, and seal joints across the exterior of the waste water treatment plant.
They are also being asked to approve a $3 million cash advance from the Stormwater Utility Fund to the Wastewater Utility Fund to replace issuance of long term revenue bonds in 2023. Per the memo to the committee, “The 2023 Wastewater Utility budget includes the issuance of revenue bonds in the amount of $9,500,000. In reviewing the timing of the projects, it was determined that only $3,000,000 would be needed in 2023 and the remaining amount could be held until 2024.” If I am reading the memo correctly, it appears that the Stormwater Utility Fund has cash available to advance to the Wastewater Utility Fund, so rather than issuing bonds for 2023 projects, the city would like to take that Stormwater cash and put it toward Wastewater projects, then pay back that money in 2024 when they issue a revenue bond to cover 2024 projects.
Finally, they will be receiving two information items, one about some change orders to a 2019 project and the final payment for a 2022 project.
View full meeting details here: https://cityofappleton.legistar.com/MeetingDetail.aspx?ID=1101376&GUID=C64D1FE1-9254-4D92-A874-DDBE5A19CEAD
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