COUNCIL ACTION FORMLoan and Disbursement Agreement • January 22nd, 2021
On October 19, 2018, City of Ames entered into a State Revolving Fund Clean Water Loan Agreement in a principal amount not to exceed $5,700,000; the loan also includes interest payments totaling $375,000. This loan provided funding for the annual Sanitary Sewer System Improvements Program for rehabilitation/reconstruction of deficient sanitary sewers and deteriorated manholes at various locations throughout the city. The City’s Capital Improvement Plan for this program included State Revolving Fund (SRF) Clean Water funding to make improvements through three projects; Sanitary Sewer Rehabilitation (Manhole Rehabilitation – Basin 1 & 5), Sanitary Sewer Rehabilitation (Flood Prone Manholes), and Sanitary Sewer Rehabilitation (Pipe Lining). The SRF loan program allows for the interest scheduled to be paid on sewer loans to be granted back to the loan originator (the City) to fund stormwater quality improvement projects; these are referred to as “sponsored projects”.
LOAN AND DISBURSEMENT AGREEMENTLoan and Disbursement Agreement • January 4th, 2023
This Loan and Disbursement Agreement (the “Agreement”) is made and entered into as of January 27, 2023, by and between the City of Marshalltown, Iowa (the “Participant”) and the Iowa Finance Authority, an agency and public instrumentality of the State of Iowa (the “Issuer”).
