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Kenosha utility to hire bond counsel for lead service line funding; fee quoted at $20,700
Summary
The board approved engaging bond counsel to support application and documentation for Safe Drinking Water Loan Program funding to replace lead service lines; staff said including private-side replacements could double the program’s reach and noted an $2.772 million original figure used to structure the fee.
The Kenosha Board of Water Commissioners approved a scope of engagement for bond counsel to support the utility’s Safe Drinking Water Loan Program funding for state fiscal year 2025, a staff member said on Feb. 10.
Utility staff said the city was awarded Safe Drinking Water funding again and that this year’s application included both public- and private-side lead service line replacements to maximize available federal dollars. Staff described the utility-side replacements as structured roughly 80% loan and 20% principal forgiveness (a 20% grant component on the utility side) and said engaging bond counsel is necessary because the utility will pledge future revenue and must supply documentation to the state Department of Natural Resources to satisfy the loan component.
Staff said the firm the city uses for municipal bonds would serve as bond counsel and quoted a fee of $20,700, calculated based on an original bond figure referenced in discussion of about $2,772,000. Commissioners approved the engagement after a motion and second; the transcript recorded ayes with no opposition.
