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Council approves $6.4 million in new general-obligation bonds and awards three major street contracts
Summary
Council authorized four bond issues tied to capital improvements and approved low bids for the FY2025 asphalt overlay, San Martin reconstruction and asphalt reconstruction projects.
The Waterloo City Council on March 17 approved new general obligation bond issues and awarded multiple contracts for street and infrastructure work drawn from the city's Capital Improvements Program (CIP).
Council received and filed public notices before holding hearings for four proposed bond issues: up to $4.2 million for essential corporate purposes (ECP 1), $700,000 for general corporate purposes (GCP 2), $900,000 for general corporate purposes (GCP 3), and $600,000 for general corporate purposes (GCP 4). The borrowing is intended to fund the city's one-year CIP priorities; staff said total department requests originally exceeded $21…
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