FACILITIESONGOING

Town of Spring City Monthly Workshop Agenda 2026-05-28

Spring City reviews funding for tank maintenance contract

$1,147,218.00 remaining contract amount plus $322,000.00 estimated Hillcrest roof repair (total $1,469,218.00 to be recovered beginning FY2026-2027); Contract Year 1 already paid $188,734.00City of SpringUTILITY SERVICE COMPANY INCMay 28, 2026

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Description

The Town of Spring City Board workshop materials outline funding strategies for the ongoing Utility Service Co., Inc. contract for water tank maintenance, including recovery of approximately $1.47 million in remaining contract and roof repair costs over ten years via customer fees. The discussion also notes a projected reduction in annual payments after the first five contract years.

Contract Details

Contract Amount

$1,147,218.00 remaining contract amount plus $322,000.00 estimated Hillcrest roof repair (total $1,469,218.00 to be recovered beginning FY2026-2027); Contract Year 1 already paid $188,734.00

Vendor

UTILITY SERVICE COMPANY INC

Agency

City of Spring, TN

Contract Type

FACILITIES

Document Date

May 28, 2026

Contract Term

Initial five contract years referenced; repayment modeled over FY2026-2027 through FY2035-2036 (10 budget years)

Renewal Info

Materials reference an initial five contract years with a projected reduction in annual contract costs thereafter; no explicit renewal or extension terms are provided.