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Caribou utilities board votes to pursue redundant river crossing water line
Summary
The Caribou Utilities Board authorized staff to pursue a state Drinking Water Program offer to move the town’s redundant river crossing water-line project to the primary funding list; the project includes principal forgiveness and a 30-year financed payoff and is fully permitted, officials said.
The Caribou Utilities Board on June 11 voted to move forward with a proposed redundant water line across the Aroostook River, accepting an offer from the state Drinking Water Program that would place the project on the program’s primary funding list.
The move matters because the state package includes substantial principal forgiveness that the board’s presenter said effectively produces a 0% interest loan when combined with the program’s terms. The board’s motion to accept the Drinking Water Program offer passed by voice vote and staff were instructed to notify the program by the next day.
Board members heard details from staff…
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