Minutes 08/12/1986 - Laserfiche WebLink

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Revised 8/6/86 3~. c ~~ CITY OF MARTINSVILLE, VIRGINIA PROPOSED FINANCING PLAN COVERING WASTEWATER TRANSMISSION AND TREATMENT FACILITIES -- The City's future financial obligations cover the following: Total Cost City Cost 1. Expansion of the City's wastewater plant from 6 MGD to 8 MGD $2,000,000 $1,333,333 2. Payment for use of diversion facilities and Upper Smith River Plant (if needed for 4 months) $ 45,872 .--- 3. Construction of 54" lower Smith River interceptor from City's plant to new Marrowbone Plant $2,871,106 $ 574,221* 4. Buy back of PSA 2 MGD capacity alloca- tion in City's plant including PSA's payment toward upgrading City's Plant $2,694,506 5. Buy back of PSA's .666 MGD capacity in 2 MGD expansion of City plant $ 666,667 6. Purchase of 2 MGD future capacity in Marrowbone Plant $2,600,000 $7,914,599 Based upon the above, the following is a new financial obligation schedule which is divided into four phases which have been converted to July-to- July time frames to match our fiscal year: Phase I July 86 $1,333,333 Phase II July 87 $45,872 Phase III July 88 $3,935,394 July 89 Phase IV July 97 $2,600,000 July 98 ,-. NOTE: Because the fourth phase (purchase of 2 MGD capacity in the Marrow- bone Plant) is so distant, no specific provisions are being made for financing this phase. * Cost of purchasing initially 2 MGD capacity in Smith River interceptor from City's Plant to Marrowbone Plant. The purchase of 4 MGD capacity in this line would cost $1,148,442.