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Board transfers $101,000 from water reserve to repay temporary sewer loan; engineer reports contractor delays
Summary
Resolution 2025-35b moved $101,000 from the Water Capital Reserve Fund to the Sewer Capital Fund to cover a temporary loan repayment; the board heard an update that contractor delays and an outstanding punch-list item are delaying final closeout and interest reimbursement from the SRF.
Madison — The Board of Public Works and Safety approved a transfer of $101,000 from the Water Capital Reserve Fund to the Sewer Capital Fund to repay the remaining balance on a temporary loan authorized by Resolution 2024-13c.
Resolution 2025-35b directs the transfer because interest expected to be received and used to repay part of the loan has not yet posted; staff said the interest is expected later in 2025 and, when received, will be deposited…
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