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Metropolitan Council approves short-term internal loan to cover environmental services capital cash-flow gap
Summary
The Metropolitan Council on April 20 authorized an internal loan to cover a short-term cash-flow gap in the Environmental Services capital fund until bond proceeds arrive May 1, 2025.
The Metropolitan Council on April 20 authorized an internal loan to cover a short-term cash-flow gap in the Environmental Services capital fund until proceeds from the council's 2025 bond issuance become available on May 1, 2025.
Council Member Ruth Johnson, who presented the item during the management committee report, said the gap is the result of a $10,800,000 project that could not use a planned Public Facilities Authority loan after a 2023 state bonding bill did not pass as expected. "This approval is not authorizing any new capital spending, it doesn't change the…
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