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Commission approves notice of intent for up to $42 million in sewer revenue bonds for wastewater project
Summary
The Traverse City Commission on Feb. 17 authorized a notice of intent to issue sewer system revenue bonds up to $42 million to finance a major wastewater treatment plant project and pursue a Clean Water State Revolving Fund loan.
Traverse City’s commission voted Feb. 17 to adopt a notice of intent resolution to issue sewer system revenue bonds not to exceed $42,000,000 to support a large wastewater treatment plant project and to proceed with the Clean Water State Revolving Fund loan process.
Art Krueger, Director of Utilities, told commissioners the $42 million ceiling reflects updated cost estimates, inflation and unforeseen technical…
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