Council authorizes staff to finalize CAT generator bond financing through KMEA
Council authorized city staff and the mayor to review and sign financing documents for a CAT generator to increase local generating capacity; proposals were expected by Thursday and estimated interest rates were cited around 4–4.5%.
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Council authorized city staff, the city attorney, the city administrator, and the mayor to review and finalize financing proposals for a CAT generator, with the debt to be held in the Kansas Municipal Energy Agency (KMEA) name to manage the city’s debt ratio under state statutes. Staff said proposals were due back by Thursday and the anticipated interest rate was about 4–4.5 percent; delivery of the unit was estimated around October.
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