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Council sets hearing date to consider up to $3 million sewer revenue loan for expanded wastewater work
Summary
Council approved a resolution to fix a date for a public hearing on a sewer revenue loan and disbursement agreement to borrow up to $3,000,000 to expand wastewater and creek mitigation work tied to the city—s SRF program.
The Nevada City Council approved a resolution to set a public hearing date on a proposal to enter into a sewer revenue loan and disbursement agreement and to borrow a principal amount not to exceed $3,000,000.
City staff said the borrowing authority is tied to the city—s State Revolving Fund (SRF) program and would allow the city to expand current wastewater projects if it chooses. "With our SRF program...we currently the projects that we are currently undergoing that was a cost of…
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