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Council approves financing plan to refinance old wastewater bonds and issue $30M for plant projects; no immediate rate increase
Summary
Council authorized issuance of new wastewater bonds to refinance prior debt and to raise up to $30 million for wastewater projects; staff said the action was included in recent rate studies and will not increase current rates beyond those projections.
The City Council adopted a resolution authorizing financing and refinancing actions for the city’s wastewater system, including refunding prior bond series and issuing up to $30 million in new debt to fund planned treatment-plant and collection-system projects.
Interim Finance Director Matt Boring told the council the refinancing of bonds issued in…
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