Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Infrastructure Financing topic
No spam. Unsubscribe anytime.
Council authorizes up to $7 million in sewer revenue bonds for plant upgrades
Summary
The council approved a resolution to authorize issuance of up to $7,000,073.90 in taxable wastewater revenue bonds and to execute a financial assistance agreement with the DNR for principal forgiveness toward tertiary filtration and plant improvements.
Marshfield — The Common Council on Jan. 14 authorized the city to issue wastewater revenue bonds and to enter a financial assistance agreement with the Wisconsin Department of Natural Resources to fund upgrades at the wastewater treatment plant.
Finance Director Jennifer Salinski presented the item and asked the council to approve Resolution 2025‑01, authorizing the assurance and sale of up to $7,000,073.90 in taxable sewage system revenue bonds and execution of the related financial assistance agreement. Salinski told the council project costs, including design, construction and construction management, are estimated at roughly $13 million; funding sources include wastewater utility fund balance, a Focus on Energy grant, and a Clean Water Fund loan with a principal‑forgiveness component.
Why it matters: the wastewater plant must meet updated phosphorus limits and a permit issued in 2018 that will expire in 2025. The facility plan identified tertiary filtration at the plant and lift‑station improvements to meet forthcoming permit requirements.
Key points
- Scope and cost: Construction and related costs for plant improvements are estimated at approximately $13,000,000. The resolution before council covered only the plant improvements, not lift‑station work, which is a separate project phase.
- Financing: The bonds (repayable from wastewater fees) were authorized with a 20‑year structure and assumed interest near 2.2% in the financing analysis; the DNR financial assistance includes a principal forgiveness award of $3,000,113.35 as part of the Clean Water Fund loan.
- Council action: After presentation and brief questions, the council approved Resolution 2025‑01 and the execution of the payment assistance agreement.
Outcome and next steps
Construction is underway; staff said the city had incurred sufficient expenditures to begin loan closing and bond issuance. With the council’s authorization, staff will proceed to finalize the financing documents and close the Clean Water Fund loan and the related revenue bond sale.
