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Council approves first reading to start 2‑phase water-rate increase and authorize financing for $70M in water projects
Summary
City leaders approved ordinances to begin a two-phase water-rate increase and authorize revenue bonds to fund well-field expansion, main extensions and a lead-service-line replacement program; rates would rise in two steps and the city will file the request with the Indiana Utility Regulatory Commission (IURC).
LAFAYETTE — The common council approved on first reading the start of a two-phase water-rate increase and authorized a revenue bond ordinance to finance water infrastructure projects, voting 8-0 to move both items forward to the regulatory and financing steps required for implementation.
Lede: The council—s action begins the formal IURC review process for proposed rate increases that the city—s consultants and staff say are needed to fund a capital plan that includes a new well field, distribution main extensions, and a lead-service-line replacement program.
What the ordinances do - Ordinance 20 25 dash 31 begins the municipal process to raise water rates in two phases; the rate case will be filed with the Indiana Utility Regulatory Commission (IURC) for review. - Ordinance 20 25 dash 32 is a bond-authorization ordinance that sets the parameters for issuing revenue bonds not to exceed the council—s stated cap (approximately $70.2…
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