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Council authorizes bonds to fund wastewater treatment plant fermenter rehabilitation project
Summary
The council authorized two bond issuances to finance a fermenter rehabilitation project at the Kalispell wastewater treatment plant: a $750,000 subordinated taxable series 2025A issuance and a $1,052,000 tax-exempt series 2025B issuance, consistent with state revolving loan program steps described by staff.
The Kalispell City Council on Aug. 4 authorized issuance of bonds to fund the rehabilitaion of a fermenter at the city’s wastewater treatment plant. City staff described the financing as two linked issuances under the state’s financing program: a $750,000 subordinated taxable Series 2025A issuance (forgivable under program terms) and a $1,052,000 tax-exempt Series 2025B issuance to cover the remainder of the project costs.
Why it matters: The fermenter rehabilitation is a capital project at the wastewater treatment plant; financing through state revolving loan or bond programs allows the city to proceed with the project while taking advantage of available program terms and partial forgiveness when eligible.
City staff explained the two-part issuance is tied to state program scheduling and forgiveness offers; the Council moved to authorize issuance to proceed with project financing. Councilor Dowd moved approval; the motion passed by roll call with all councilors voting aye. Council discussion included clarifying whether an underwriter or bond counsel was engaged; staff said the transaction is proceeding through the state program and bond-counsel engagement has occurred for the issuance process.
Ending: The council’s authorization permits staff to carry out the financing steps under the state program and proceed toward project construction and associated contract actions; staff will return with final issuance documents and closing details as required.
