Title
AN ORDINANCE PROVIDING FOR THE ISSUANCE AND SALE OF NOT TO EXCEED $3,000,000 OF NOTES, IN ANTICIPATION OF THE ISSUANCE OF BONDS, FOR THE PURPOSE OF PAYING COSTS OF INSTALLING AN ADVANCED METERING INFRASTRUCTURE (AMI) PROJECT FOR THE CITY’S WATER RESOURCES AND PUBLIC POWER UTILITIES.
Brief Description: This Ordinance authorizes borrowing for the installation of the automated metering infrastructure (AMI) for the Water and Electric Departments. This system enables continuous, two-way transfer of real-time usage data between utility billing and utility customers.
Body
Legislative History
None.
Purpose & Explanation
The purpose of this Ordinance is to finance the AMI system for Water and Electric. Staff will provide a more detailed explanation at an upcoming workshop but generally the key benefits of the system are:
Remote Operations: Utilities can read meters, connect, or disconnect service without dispatching a worker.
Fast Outage Detection: Systems immediately alert providers to power failures or grid issues.
Leak and Fault Tracking: Constant data flow helps catch water leaks or grid stress early.
Better Tracking for Users: Customers view their usage to assist in lowering their bills.
The estimated cost of the system is $2,000,000 for Electric and $1,000,000 for Water.
Timing Considerations
Staff is requesting passage of the legislation to allow the AMI notes to be issued.
Fiscal Impact
Currently Budgeted
Supplemental Appropriation Required
X Appropriation Not Required.
Recommendation
Suggested Action
Staff recommends passage of the Ordinance to allow the issuance of the notes.
Submitted by,
Thom Sheridan, City Manager
Jeff Knoblauch, Asst City Manager/Finance Director