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Snoqualmie staff recommend accepting $6.87 million Ecology loan to build reclaimed-water reservoir
Summary
City staff asked the Public Works Committee to advance a resolution accepting a $6,866,000 low-interest loan from the Washington State Department of Ecology to finance a reclaimed-water reservoir; the committee agreed to carry the item forward on a nonconsent basis and asked for additional budget detail before final approvals.
The City of Snoqualmie considered a resolution (AB 25-023) to accept a $6,866,000 low‑interest loan from the Washington State Department of Ecology to build a new reclaimed‑water reservoir.
Andrew Vining, engineer, presented the loan package and told the committee the state offered a 30‑year term at an effective 1.6% interest rate. Vining said the loan is more competitive than issuing market‑rate bonds and that the city will continue to bring individual construction contracts back to council for approval under city financial policy.
City staff and the committee focused on how the loan affects city finances. Finance Director Drew Boutet and bond counsel from Pacifica…
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