JEFFERSONVILLE —
The Jeffersonville Sanitary Sewer Board has known it will have to borrow money in order to update the city’s sewer system, but the amount it will need has increased.
The board will look to borrow up to $50 million to complete the north and south pump station in the city, as well as the new combined sewer overflow interceptor sewer, without increasing sewer rates, according to the information presented at a recent sewer board meeting.
Wastewater Utilities Supervisor Len Ashack said while the city would look to borrow up to $50 million at the current sewer rates, its current bonding capacity is about $9 million less.
“The future bonding capacity at the current rates is $41 to 42 million,” he said.
The breakdown of the projects totaled about $11.4 million to complete the north and south pump stations and the force mains for the sewers.
“We also have this other project that is out there that is looming is the interceptor,” Ashack said.
The combined sewer overflow interceptor, which took the place of the former canal project, is expected to cost about $34.4 million.
And in order to complete the projects, financing has to be sought soon.
“We need to close on the north and south pump station loans by the middle of November which means ... we need to go out for bids on both projects by the first of October,” Ashack said.
In order to pay for the projects he requested, the sewer board recommended to the city council that it approve a change in the city’s bond ordinance.
“We need to have the bond ordinance changed to allow us to go out for bids on [these projects],” Ashack said. “We have the money in [sewer] rates to pay for what we have, we just don’t have the ordinance to allow us to bond to borrow the money.”
The amount offered totaled $50 million, to allow for changes in interest rates and for changes in project costs.
To ensure the city is not borrowing too much money for the projects, the sewer board members asked if the money could be borrowed in a series of bonds. It subsequently approved making a recommendation to the city council to change the city ordinance to allow $50 million worth of bonds to be sought in a series — A, B and C — as needed, and as can be afforded so that it does not increase sewer rates.
IMPROVING AESTHETICS
A plan to complete a wall surrounding the 10th Street pump station was presented to the sewer board at their meeting Thursday.
Jeffersonville Mayor Mike Moore had previously offered his concerns about the appearance of a chain-link fence surrounding the 10th Street pump station because it sits at one of the entrances to the city off of Interstate 65.
Ashack investigated alternatives to the chain link fence and presented a preliminary plan to the sewer board to construct a 10-foot-high brick wall to replace the chain-link fence. He did not offer a specific price for the 642 linear foot wall, as he said he needs to gather more details, but added the initial estimates were more than $100,000.
Moore added that he would like to eventually add plaques to the brick wall along with “Jeffersonville, Home of Champions” and he plans to ask the Jeffersonville Redevelopment Commission for funding for cost of plaques.
“I think we can recognize a whole gambit of community leaders,” he said.
UTICA SEWER EXTENSION
Bids were also opened for the Utica Pike sewer extension project.
Five contractors returned offers with the low bid from Dan Cristiani Excavating Company Inc. totaling $2.06 million. The high bid was returned at $2.76 million.
Jacobi, Toombs and Lanz Inc., who were the engineers for the project, offered an engineer’s estimate of $2.1 million and asked the board to allow the bids to be taken under advisement and reviewed.
A recommendation is expected to be returned at the next sewer board meeting.
Recent Local News
September 11, 2012
Jeffersonville seeks more sewer money
Board recommends changing ordinance to borrow $50M
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