Committee hears updated figures on sewer bond with $781,740 forgiveness component
The committee reviewed revisions to Resolution 3754, a sewer bond package that now includes a $781,740 forgiveness loan (Loan A) and a $196,000 financed loan (Loan B), and members responded positively to the increased forgiveness amount.
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The Red Lodge Administration & Finance standing committee reviewed updated financing figures for Resolution 3754, the bond package tied to the city's sewer project. Staff told the committee that Loan A, described as a forgiveness loan, would total $781,740, while Loan B — the portion the city will borrow — would be about $196,000, making the total financing the sum of those two amounts.
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