NOTICE OF DETERMINATION TO CONSTRUCT AND FINANCE ADDITIONS AND IMPROVEMENTS TO THE TOWN OF ROSEDALE’S STORMWATER SYSTEM AND THE ADOPTION AND PURPORT OF THE ORDINANCE AUTHORIZING THE SAME
Property owners, ratepayers, and other interested parties in or served or to be served by the municipal sewage and stormwater system of the Town of Rosedale (the “Town”) the “System”) are hereby notified that on September 12, 2023 the Town’s Council adopted an Ordinance determining to construct and undertake a project described as follows: installation of a new storm sewer between East Street and Miller Street along the existing alley continuing to Central Street and Maple Street. The proposed storm sewer begins southeast of the intersection of Elm Street and Maple Street and outlets to Sulphur Creek. The storm sewer is approximately 2,000 linear feet and with pipe sizes ranging from 12” to 36” in diameter. Grouted riprap is to be placed at the outfall location to protect the existing stream bank from erosion and scour. Other work will include installation of a dry well, restoration of the roadway, and permanent seeding. All work will be performed pursuant to plans and specifications prepared by HWC Engineering, consulting engineers employed by the Town, and available at the office of the Clerk-Treasurer of the Town.
The Ordinance further authorized the issuance of the Town’s revenue bonds payable solely from the net revenue of the Stormwater System (“Bonds”) to pay for the cost of the Project. The total estimated cost of the Project is presently estimated to be $887,500. The Ordinance directed that the Project is to be financed by the issuance of Utility Revenue Bonds in the amount of $186,500 to be purchased by the Indiana Finance Authority through its Flood Control Loan Program. The loan will bear interest at a rate not to exceed 3% per annum for a period of not to exceed 10 years. The balance of the project will be funded from a $600,000 grant from the Indiana Office of Community and Rural Affairs and $101,000 in existing Town funds.
Copies of the plans, cost estimates, and the Ordinance are on file in the office of the Clerk-Treasurer of the Town and are available for inspection by any interested parties during regular business hours.
Forty (40) or more owners of property connected or to be connected to and served by the Town’s Stormwater System may file a written petition objecting to said Project which must be filed in the time and manner provided by I.C. 36-9-23-12.