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Loveland council approves $95 million in water and wastewater borrowing on first readings
Summary
On first reading the council approved tax-exempt revenue bond authorizations: up to $45.5 million for the water enterprise and up to $50.5 million for wastewater, with staff citing capacity, lead-line replacement and aging infrastructure as drivers.
The Loveland City Council on Tuesday approved on first reading three ordinances authorizing tax-exempt revenue borrowing for the city’s water and wastewater enterprises. Staff described the borrowing as necessary to fund major capital projects, meet regulatory requirements and avoid higher future costs from inflation.
Staff requested authority to issue up to $45,500,000 in water enterprise revenue bonds (maximum interest not to exceed 5.25 percent, 30-year maturity) and up to $50,500,000 in wastewater enterprise revenue bonds on similar terms. City staff highlighted key projects expected to be funded by the…
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