Regular City Council Meeting


Print

Return to the Search Page Return to the Agenda
  Item No. 17.       
Meeting Date: 03/11/2021  
COMMITTEE: Finance  
CONTACT: Juan Fuentes CHAIR: Jason Perry

ACTION REQUESTED:
Resolution 21-16 - Consideration of Resolution 21-16 authorizing the submission of an application for financial assistance and project approval to the New Mexico Finance Authority. (Perry/Fuentes)
BACKGROUND:
Initiated by: Juan Fuentes
 
Through official action of the City Council, the Solid Waste Department was authorized to purchase a new landfill compactor from Wagner CAT in the amount of $1,234,434 using the SW Fund cash on hand and adopted Resolution No. 21-03 to seek a loan to reimburse itself for the expense.
 
On February 8, 2021, Souder, Miller & Associates (SMA) completed calculations of the available airspace for landfill Unit 4 and projected to be filled by July 2021.  SMA has submitted a proposal for Design/Construction services for Unit 5A to transition after Unit 4 is closed.  SMA is estimating Unit 5A cost to be around $3.3 million.
 
The proposed resolution authorizes the submission of an application for financial assistance from NMFA for the compactor, as authorized by Resolution 21-03, and design/construction of Landfill Unit 5A for an amount of $4,540,000.
FINANCIAL CONSIDERATION
Erik Harrigan, RBC Capital, will present a financial analysis for borrowing through the New Mexico Finance Authority.
LEGAL REVIEW:
Resolution was submitted to legal for review.
BOARD AND COMMITTEE ACTION:
Finance Committee voted (3-0) in favor and recommend for consideration to the City Council on Thursday, March 4, 2021.
STAFF RECOMMENDATION:
Consideration of Resolution 21-16 authorizing the submission of an application for financial assistance and project approval to the New Mexico Finance Authority.
Attachments
ATT 1 Resolution 21-16 NMFA Application


    

Level double AA conformance,
                W3C WAI Web Content Accessibility Guidelines 2.0

AgendaQuick ©2005 - 2022 Destiny Software Inc. All Rights Reserved.