SUBJECT:
Title
Request Approval of Resolution Resubmit Related to Marion County’s Drinking Water State Revolving Fund Principal-Forgiveness Loan (Budget Impact - Revenue Generating)
Body
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INITIATOR: |
DEPARTMENT: |
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Matthew R. Cretul, Sr., PhD., Legislative Manager |
Administration |
DESCRIPTION/BACKGROUND:
This item is a resubmit due to a request to update the language on the resolution that was approved during the board meeting on February 3, 2026. Section III was modified from “The revenues pledged for the repayment of the loan are the water and sewer system revenues after payment of debt service on Marion County's Series 2016; Water and Sewer System Revenue Bonds, the Series 2021B Water and Sewer System Refunding Revenue Bonds, and the Series 2022A Water and Sewer System Refunding Revenue Bonds.” to saying “Due to one hundred percent (100%) principal forgiveness of the loan, there are no pledged revenues required, and disclosure of senior revenue debt is also not required.” per their request.
On April 1, 2025, Marion County submitted its application for the Lowell Municipal Drinking Water project to the State’s Drinking Water State Revolving Fund (DWSRF) program. The application was for funding related to the planning, design, and construction of municipal drinking water infrastructure in the Lowell area due to ground contamination. Fortunately, Marion County’s application was approved, and the county is in the process of securing $1.25 million in the form of a principal-forgiveness loan. This resolution is a requirement of the program and will allow Marion County Utilities to move forward in the process of providing residents of the Lowell area with clean, safe drinking water.
BUDGET/IMPACT:
Grant generated revenue to be expended with no match. The County will receive $1.25 million in principal-forgiveness funds to be used toward the Lowell Municipal Drinking Water project.
RECOMMENDED ACTION:
Recommended action
Motion to approve and authorize the Chairman and Clerk to execute the resolution.
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