During the Winslow City Council meeting last week, City Finance Director Regina J. Reffner presented the council with the annual Water Infrastructure Finance Authority Loan (WIFA) report.
On Feb. 13, 1996, the city entered into an agreement to borrow $8.9 million from WIFA's State Revolving Fund in order to build a new wastewater treatment facility and replace sewer lines thoughout the city. The citizens voted to implement an additional one percent transaction privilege tax specifically to repay this loan.
Reffner noted that as of June 1999, the city had expended the entire loan amount. To date, the city has collected $8,941,157 in sales tax revenue and has earned $576,494 in interest.
As of June 30, 2005, the city has dispersed $5,408,830 in administrative fees, loan interest, and prinicpal from designated sales tax revenue.
She noted that there will be another semi annual interest payment due in late December for $102,000. The loan was for 20 years, with the final payment scheduled in 2015, at which time the sales tax would be suspended.
The city currently owes $5,554,274 principal on the WIFA loan.
In other action Dec. 13, the council:
* Approved purchase and payment for replacement parts from First In, Inc. of Phoenix, for Engines No. 1 and 3 for the Fire Department, in an amount not to exceed $5,000.
* Authorized an increase in cost of repairs of the Wastewater Treatment Plant Channel Monster and approved payment of $3,500 in addition to the $11,000 already approved for a total of $14,460, due to more extensive damage than previously believed.
* Approved purchase of a computer in the amount of $1,359 for the maintenance operations secretary.
* Approved a $2,900 payment to Aquatic Consulting and Testing Inc. for the Whole Effluent Toxicity test done in June 2005.
* Approved payment of $1,785 to Mohave Environmental Laboratory (MEL) for testing of the monitoring wells at the closed landfill, according to Environmental Protection Agency (EPA) and Arizona Department of Environmental Quality (ADEQ) requirements.
* Approved payment of $3,880 to MEL for annual testing for the Arizona Pollutant Discharge Elimination System Permit.
* Approved payment of $1,140 to MEL for semi-annual lab testing for the Aquifer Protection Permit as required by the EPA and ADEQ.
* Approved a $1,000 deductible payment for an insurance claim. The city received the claim in August when the wind blew down the fence in front of the Rasco Building.
* Approved purchase of $25 gift cards for city staff in an amount not to exceed $3,500.
* Approved the reappointment of Jim Pate and Elizabeth Campbell to the Planning and Zoning Commission. The new terms will expire on Dec. 31, 2008.
* Approved and adopted Ordinance No. 988, amending schedule of rates, fees and charges, increasing the fee amount for returned checks from $20 to the maximum allowed by state $25.
* Continued review and action on a draft recapture agreement for Mike Pike's Improvement until the Jan. 10 council meeting.
* Canceled the Dec. 27 council meeting.