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Council approves $10 million revenue bond and refunding to finance sewage plant upgrades and lagoon closure
Summary
The city approved a refunding of Sewage Works revenue bonds and a separate $10 million revenue bond to finance closure of a biosolids lagoon and upgrades to lift stations and a force main at the wastewater treatment plant.
The West Lafayette Common Council on May 5 approved two ordinances to finance improvements at the city's wastewater utility: a refunding ordinance for existing Sewage Works revenue bonds and a $10 million revenue bond to fund construction of improvements at the treatment plant.
What the council approved: The first measure, described by city utility staff as a refunding similar to refinancing a mortgage, authorizes the city to refund its Sewage Works Revenue Bonds, Series 2016. Utility staff said the city may refinance the bonds in October if market conditions are favorable and…
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