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Commission approves first reading of ordinance codifying wastewater debt backstop as DEP funding delayed
Summary
The City Commission approved on first reading an ordinance that codifies the city's obligation to ensure debt service on wastewater borrowing, after staff said Florida Department of Environmental Protection funding is delayed until August and the city is negotiating developer surety to secure treatment-plant capacity.
The City Commission of the City of Newberry approved on first reading an ordinance amending the city's water and sewer development charge sections that codifies the municipality's obligation to cover debt service tied to wastewater borrowing.
City Manager Mike (city manager) told commissioners the change reflects language already present in prior loan agreements and is intended to satisfy a Florida Department of Environmental Protection (FDEP) requirement while staff finalizes developer agreements that will secure extra plant capacity.
Staff said the city is negotiating surety devices and developer commitments so that unsecured capacity will not place the city's ratepayers at risk. "We are pioneering that'and we're gonna have success.…
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