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File #: 2020-1072    Version: 1 Name:
Type: Resolution Status: Preliminary Item
File created: 9/3/2020 In control: Executive Proposed Agenda
On agenda: 9/29/2020 Final action: 9/22/2020
Title: Commission District(s): All Commission Districts Authorizing the Execution and Delivery of a Water Infrastructure Finance and Innovation Act (WIFIA) Loan Agreement and Note
Attachments: 1. DeKalb - Term Sheet(2002601009.8.docx) (003), 2. DeKalb - WIFIA Loan Agreement(2005399608.8.docx), 3. DeKalb WIFIA Loan Proj Scope_v2, 4. Exhibit 1_WIFIA Loan Sewer Map, 5. Exhibit 2_Briarcliff Corridor Water_south map_v2, 6. Exhibit 3_Briarcliff_WM_north Map_v2, 7. Exhibit 4_OSARP Overview Map, 8. County Authorizing Resolution - WIFIA Loan Agreement 2020

Public Hearing: YES ? NO ? Department: Finance

SUBJECT:
Title
Commission District(s): All Commission Districts
Authorizing the Execution and Delivery of a Water Infrastructure Finance and Innovation Act (WIFIA) Loan Agreement and Note
Body

Information Contact: Dianne McNabb, Chief Financial Officer & Robert Atkins, Treasurer

Phone Number: (404) 304-4736 & (678)-910-5638

PURPOSE:

To consider adopting a resolution to authorize the execution and delivery of a WIFIA Loan Agreement between the United States Environmental Protection Agency, as lender ("WIFIA Lender"), and the County, as borrower, and related WIFIA Note from the County in favor of the WIFIA Lender, in connection with the loan of not to exceed $265,000,000 pursuant to the Water Infrastructure Finance and Innovation Act, as amended by Section 1445 of the Fixing America's Surface Transportation Act of 2015, as further amended by Section 5008 of the Water Infrastructure Improvements For the Nation Act of 2016 and by Section 4201 of America's Water Infrastructure Act of 2018, to pay 49% of certain eligible costs related to the Project (as described in the WIFIA Loan Agreement).

NEED/IMPACT:

The County has determined that the acquisition and construction of the Project (as described in the WIFIA Loan Agreement) will benefit the citizens of DeKalb County, and the County has determined that a portion of certain eligible costs related to the Project should be paid with the proceeds to be received by the County from the WIFIA loan.

FISCAL IMPACT:

The WIFIA Loan debt service is estimated total $334 million, including $265M in principal and $69M in interest (estimated) over 39 years, maturing in 2059. DeKalb County is expected to realize significant interest savings in excess of $100 million and structuring flexibility as compared to our traditional revenue bonds.

RECOMMENDATION:

Recommended Action
Adopt the attached resolutio...

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