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Call Lake water program has collected $79 million; city reports $12.6 million available, $10.2M due in September debt payments
Summary
City finance staff reported that the Call Lake water supply program has collected roughly $79 million in sales tax proceeds plus $1.5 million in interest, has $12.6 million available in reserves and faces about $10.2 million in loan principal and interest due Sept. 15.
City finance staff gave a quarterly financial update on the Call Lake water supply program, reporting cumulative collections, investment status and upcoming debt obligations.
Miss Crawford said data through May show the city has collected about $79 million from the 1% sales tax set aside for the program and earned approximately $1.5 million in interest on those funds. "Of that $80.6 million, we have paid out in loan payments $68 million, and we have $12.6 million sitting…
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