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Meridian approves application for $3.97 million state loan to fund Phase 2 freshwater well
Summary
The Meridian City Council on May 20 authorized the mayor to sign an application for a $3,971,930 State Revolving Loan Fund loan for Phase 2 of the city’s freshwater well project; staff said the loan would carry about 2% interest over 20 years and currently shows roughly $500,000 in principal forgiveness.
Meridian City Council on May 20 approved a resolution authorizing the mayor to sign an application for a $3,971,930 State Revolving Loan Fund loan to support Phase 2 of a freshwater well project.
City staff told the council the action is to submit the loan application and does not finalize a contract; the final loan terms and any agreement would return to the council for approval later in the year.
“This is just the loan application. It’s due June, I think. It’s strictly to, give…
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