Good morning.

Today is Thursday, August 23rd.

It's 1001 a.m.

Uh calling this utilities uh committee to order.

Madam Clerk, can you please call the roll?

Present.

Here.

Can I call it second?

And at this point, Madam Clerk, uh Councilwoman Welsh is in the room.

So if we can name her pro temp for this meeting only.

And then if you could please excuse Councilman Bishop from today's committee hearing.

Director, you want to come on up?

We have four pieces of legislation today.

Ordinance number 1012, 2025 by Councilmember Griffin by Departmental Request.

An emergency ordinance, amending section six of ordinance number twenty-nine-sixteen passed January twenty-fifth, two thousand sixteen, entitled an emergency ordinance authorizing the issuance of the sale of water pollution control revenue bonds for the city of Cleveland for the purpose of paying costs of improvements to the water pollution control authorizing a master trust agreement to secure water pollution control revenue bonds of the city authorizing approving related matters and declaring an emergency.

Authorizing a third supplemental trust agreement and other agreements documented and actions related to amendment of the WPC general bond ordinance and authorizing and approving related matters.

Uh council gave us the authority at the division of water pollution control to borrow approximately $32 million.

At that time, this opportunity for refunding did not exist through the OWDA for subordinated debt.

We're seeking authority to amend the enabling legislation that we borrowed and spent on behalf of our customers in order to refund those obligations into this opportunity through the Ohio Water Development Authority and realize an approximate savings if issued soon, but 4.3 million dollars to our customers.

And over what length of time?

So it's four million over 20 years.

Well, this would be two only two projects of water pollution control, but they've only borrowed twice in its history to perform the necessary capital improvements for our customers.

But we have a lot of experience with OWDA as a funding partner.

So we do try to capitalize on those opportunities through the OWDA when we can.

So this was this was debt taken on by our customers in the traditional debt bond market, right?

So the refund is to pay that back and enter into a new agreement through the OWOWDA with more favorable terms to the benefit of.

All right.

Any other questions on 1210?

All right.

CNN 1210 2025 stands approved.

Part two.

Ordinance number 1211 2025 by Councilmember Griffin by Departmental Request and Emergency Ordinance authorizing the city to apply for and accept and enter into a cooperative agreement between the city and the Ohio Water Development Authority for the refinancing of the city's water pollution control revenue bonds series 2016, the proceeds of which were used for the purpose of paying costs improvements to the water pollution control authorizing approving related matters.

Thank you, Chairman and the members of the committee.

Um this ordinance be acceptable to the committee and then finance on Monday, we would anticipate submitting to the OWDA board within the next two weeks.

Um and then hopefully they would act it their November board meeting to give us the approval to participate in this program.

So then it would be then we could realize the savings and and uh intend and refund these obligations.

Is there a chance that that board will say no?

No.

Okay.

Any questions on 1211 2025?

Mr.

Chairman, Councilman Palency.

The only question I would have are there specific projects tied to that.

Uh Chairman of the council member, those projects were completed between the years of 2016 and 2019.

Um there's there were projects, but these dollars have been spent.

Yep, but there's there's nothing new coming that's attached to the chairman of the council member that's correct.

Okay, thank you.

This is refinancing old debt.

Yeah, that's Chairman Cut's correct.

All right, 2011.

Any other questions on 2011, 2025?

Seeing none, please sign up.

Ordinance number 1219-2025 by council members Casey and Griffin by departmental request, an emergency ordinance determining the method of making the public improvements of constructing and installing replacement sewers and repairing and rehabilitating existing sewers and sewer connections, religion sewers and constructing and repairing catch basins and manholes at various locations throughout the city on an as-needed basis, and authorizing the public department the director of public utilities to enter into one or more public improvement requirement contracts for making of improvements and authorizing gifts, grants, or loans for a term of one or two, a term of one or two years.

Thank you, Chairman.

So it for these requirements contracts, what we have traditionally done is give the benefit, the option of a one we'll take a bid from the open market for a one or a two, and then should the numbers be substantially similar, we would try to extend it.

But in that lies the problem, if you would look at the existing contracts in your executive summary, they'd now expire at various times.

The one the reason that we're here today is we have one of these very important contracts that expires in January of 2026.

There's another contract let under this piece of legislation that doesn't expire until May of 2027.

So the commissioner and I, and he's happy to answer any questions.

The commissioner and I are going to put some effort into getting these contracts closer aligned, even if there's some benefit to the one or the two, we should go out to bid at around the same time to realize the the efficiencies of scale.