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Posted: November 01, 2016
Rapid City
Agenda Item Summary

Agenda Item Ref. #: PW110116-25

Agenda Item Title:

Authorize Mayor and Finance Officer to Sign Resolution No. 2016-072, A Resolution Establishing a Surcharge for the East Rapid City Water Users Region

Origination Group:
Public Works Committee
Origination Meeting Date:
11/01/2016
City Council Hearing Date:
11/07/2016
Staff Contact:
Stacey Titus, P.E. & Wade Nyberg
Location:
E. of Rapid City/ W. of Regional Airport
Agenda Item Summary:
The City of Rapid City has secured financing from the State of South Dakota to expand its water service system to the area designated as the East Rapid City Water Users Region. The financing package includes State grant funds, State SRF loan funds, and City utility support funds. The City intends to recoup the SRF loan funds through the imposition of a surcharge to new water users in the Region. The surcharge will be added to each customer’s bill until such time as the SRF loan funds are recovered. The Resolution provides for a mechanism whereby Finance can track the surcharge funds received, which will be used by the Water Enterprise Fund to repay the SRF loan.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Approve
City Council Recommendation Action:
Approve

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