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Sioux City approves temporary financing intent and proceeds with sewer revenue loan note process
Summary
Council approved a resolution to declare intent to issue debt to reimburse city expenditures tied to SRL financing and later moved forward with proceedings to authorize up to $11 million in sewer revenue capital loan notes; staff said ARPA funds bridged early spending and the SRL loan will formally close in September.
Sioux City council approved a resolution intended to allow the city to issue debt to reimburse expenditures paid on specified projects and later voted to institute proceedings for sewer revenue capital loan notes not to exceed $11 million. City staff explained the reimbursement intent resolution is tied to an SRL loan that will not close until September and said the city has used a portion…
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