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Council members press for clarity on $80 million loan interest and deferred water/sewer projects
Summary
Council members and staff discussed large loan interest payments tied to the solar project, rising water revenues after new meters, and whether previously planned water and sewer capital projects have been delayed or canceled.
Council members raised concerns at a Cloverdale City meeting about how interest payments on a large municipal loan are affecting the city’s water and sewer capital program.
At the start of the meeting a council member said the city has an "$80,000,000 loan" with "$2,000,000 interest payments on it," and asked which water and sewer capital projects were deferred or canceled because of those debt-service costs. The council member said: "Something has to hurt the infrastructure that we all been wanting over the last...20 years." (Councilmember (unnamed), public comment)
City staff said they would gather and provide a clearer…
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