File #: 2025-0271    Version: 1
Type: Ordinance Status: To Be Introduced
File created: 9/9/2025 In control: Budget and Fiscal Management Committee
On agenda: Final action:
Enactment date: Enactment #:
Title: AN ORDINANCE authorizing the executive to execute an amendment to an agreement approved under Ordinance 19821 with the Washington state Department of Ecology for loan financing for a wastewater capital project.
Sponsors: Rod Dembowski
Indexes: Amendment, capital projects, Ecology, Executive, Finance, loan, Washington, State of, Wastewater
Attachments: 1. A. Amendment NO. 1 to Agreement NO. WQC-2024-KCoNRP-00004 Between the State of WA Dept. of Ecology and KC Natural Resource & Parks Dept., 2. 2025-0271 Transmittal Letter, 3. 2025-0271 Fiscal Note, 4. 2025-0271 Legislative Review Form, 5. Attachment A. Amendment No. 1
Related files: 2024-0269
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Drafter
Clerk 09/02/2025
Title
AN ORDINANCE authorizing the executive to execute an amendment to an agreement approved under Ordinance 19821 with the Washington state Department of Ecology for loan financing for a wastewater capital project.
Body
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Findings:
A. Ordinance 19821 authorized the King County executive to enter into an agreement with the Washington state Department of Ecology for loan financing for the design phase of the West Duwamish Combined Sewer Overflow (CSO) Control project. The original loan agreement for the design phase of the West Duwamish CSO Control project had a maximum loan amount of $10,163,264 and a loan expiration date of July 31, 2025. The Washington state Department of Ecology has awarded the department of natural resources and parks $43,896,000 in a State Revolving Fund loan for the fiscal year 2025 cycle for the construction phase of the West Duwamish CSO Control project.
B. Amendment No. 1 to the agreement for the West Duwamish CSO Control project will increase loan funding by $43,896,000 and will officially closeout the original design loan. The low-interest loan will save King County ratepayers $28,000,000 in interest payments over thirty years, which is $17,900,000 net present value, as compared to conventional bond financing.
C. The State Revolving Fund loan will assist in financing the construction phase for the West Duwamish CSO Control project that is part of King County's wastewater capital improvement program.
SECTION 2. A. The King County executive or designee is hereby authorized to enter into this amendment to the original loan agreement with the Washington state Department of Ecology to close-out the design phase loan and to add construction loan funds for the West Duwamish CSO Control project.
B. The maximum loan amount for the West Duwamish CSO Control project shall be $52,825,093.27 plus interest.
C. The original loan agreement for the de...

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