Subject:
Resolution 2026-26 - Drinking Water Surcharge for Orleans Project
Prepared By:
Christina Smith, Finance Officer
Background of Issue:
RESOLUTION OF CITY OF DELL RAPIDS, SOUTH DAKOTA TO APPROVE A SURCHARGE APPLICABLE TO USERS OF THE CITY’S DRINKING WATER SYSTEM IN ORDER TO REPAY A SURCHARGE REVENUE BOND IN THE PRINCIPAL AMOUNT NOT TO EXCEED $1,158,000. The attached document was prepared by Davenport Evans Law Firm, bond counsel for the City on the loan with the DANR. The document approves a surcharge to the users for the repayment of the loan.
Surcharge is set at $3.95 per user per month. The surcharge will be imposed beginning January 1, 2028 when the bond payments are anticipated to start.
Recommendation
Approved as presented.
ATTACHMENTS: