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MAJOR INITIATIVES <br />The City continued working with the State and County iuwhat is toonedthe DainsoyGateway Project. ]1he <br />8umuoyGatuv/oy Project will provide grade separations o[US Diuhvvuy 10/169 and \heBNSF &ui|vmy. <br />||iOhvvuy 10 impmronocots at Sunfish Luku and Buoonay 800|ovun] are part of the project p|au. This <br />project, with ail estimated cost o[$|3K nuUUou, is fully funded oxofJuly 2O2l, and uoushoodon is set to <br />begin in [u|| 2023 with the final touches completed in 2020. Qmnyoy"y contribution k`tile project is <br />eyiinnu1ed ak$2,000,000. <br />The City issued $10,765'000 of General 0h|imtkn/ Street Reconstruction Bonds in 2022 for x(rcct <br />improvements thnuugho/Athe city limits. The City ioplanning tnreconstruct oroverlay approximately 45% <br />of its streets in the next tell years. 'File rating firin of Standard and Poor's reaffinned the City's AA+ bond <br />rating with this debt iSSUe. <br />The City will begin construction of a tell million gallon per day water treatment plant in tile spring of 2023. <br />The project imestimated incost $42.5million nndhucompleted inthe -fall ny2025. Funding <br />is pruyuxud to come bnm the Oiy`o Enterprise Poodn in which the city has been budgeting for tile project <br />since 20O4and also the issuance oforoveoue hood. Debt service will be paid Gnnothe Ciiy"nmunicipal <br />water users via quodudyUtility billing collections. <br />CERTIFICATE OF ACHIEVEMENT <br />The Government Bouuoe 011"ioers &nonuiudon of the United States and Canada (GF( &) uv/yrdcd the <br />Certificate of' Achievement fbr8xcc||onoc in Financial Reoding(C&BPR] to the City for its Annual <br />Comprehensive Financial Report for the year ended December 3l,202|. This was the twenty-eighth year <br />the City has received this prestigious award. Also, the City had previously received the award from 1981 <br />thrOUgh 1988, after which tile City did not participate in tile program for several years. <br />Thc (AllFK is valid for a period of one year only. We believe ou, current Annual COrnprChenSiVC <br />Financial Roportuoutiuoox to meet the C&EP8 yroArom'm requirements and we are subo/irhng it to the <br />GFOA to determine its eligibility for another certificate. <br />ACKNOWLEDGMENT <br />The 2022/\ouuo|Comprehensive Financial Report o[the City meets the highest professional standards and <br />was prepared ioutimely and cost-effective manner. This oou|dnever have been accomplished without the <br />excellent work o[the entire Finance Department. VVewould like hoexpress our appreciation totile Finance <br />Department and all members ofthe City's staff who contributed to its preparation. <br />Respectfully submitted, <br />Brian ||uuen DiauaLuud <br />City Administrator Finance Director <br />17 <br />