36-inch Ogden Canyon waterline
At an April 23, 2024 work session the council discussed proposed Utility Revenue Bond parameters for the 36-inch Canyon Waterline project.
In review
- Type
- Public project
- Applicant
- Ogden City Public Services
- Location
- Ogden Canyon and under Pineview Reservoir
- City Council: Resolution 2024-2: up to $82.1 million Subordinated Sewer, Water and Storm Sewer Revenue Bond…
- City Council: 36-inch Ogden Canyon waterline project financing (work session)
In brief
36-inch Ogden Canyon waterline appears on 2 recorded agendas, from the City Council meeting of April 9, 2024 to the City Council meeting of April 23, 2024.
On record, it was approved once.
The most recent decision was approved (7-0) at the City Council meeting of April 23, 2024.
Follow the money and project delivery
36-inch Ogden Canyon waterline
- Council action
In review according to the dated project source. Record → · April 23, 2024
- Money in the record
bond: $82.1 million — Maximum principal of Series 2024 revenue bonds to finance the 36-inch Ogden Canyon waterline project Record → · April 23, 2024
- Signed agreement and payments
Execution and project-level disbursements are not verified by this tracker. They require separate records; meeting approval alone does not establish either.
- Work and operating costs
Check the linked records for completion and recurring operating costs; this tracker does not verify them. Record →
Every hearing and vote
April 23, 2024 · City Council
Resolution 2024-2: up to $82.1 million Subordinated Sewer, Water and Storm Sewer Revenue Bonds, Series 2024
Approved · 7-0
The council approved bond parameters for financing the roughly $100 million Ogden Canyon waterline: maximum par $82,100,000, 40-year term, maximum 3 percent discount and a maximum interest rate that the council raised from 5 to 6 percent on bond counsel Laura Lewis's advice to allow room for rate changes. Planned sources are a $34.3 million State Revolving Loan Fund loan at about 1 percent and a $42.6 million WIFIA loan at about 5 percent, with $10 million in state appropriations and $12 million in city ARPA funds. Estimated debt service is $39.965 million for the state loan and $75.06 million for the WIFIA loan. A public hearing was set for June 11, 2024 at 6:00 p.m., with closing in late June or early July. The amendment to raise the rate cap passed unanimously on a motion by Council Member Hyer, seconded by Council Member Blair.
April 9, 2024 · City Council
36-inch Ogden Canyon waterline project financing (work session)
Discussed
Public Services Director Justin Anderson said the roughly $100 million project (CIP WU003) has three phases: Pineview waterline ($22 million), 36-inch Ogden Canyon waterline ($57 million) and a 42-inch overflow line to the 23rd Street reservoir ($7.2 million). Financial advisor Fred Philpot of Lewis Robertson and Burningham outlined proposed sources: $34.3 million State Revolving Loan Fund, $42.6 million federal WIFIA loan, $10 million state appropriations and $12 million city ARPA funds. It was the first of several work sessions.