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Council hears first reading of interfund loan to fund combined sewer overflow project estimated at $4.5 million
Summary
City staff presented an ordinance for a first reading Oct. 6 to authorize a 5-year interfund loan from the water fund to the wastewater fund to support a combined sewer overflow (CSO) project estimated at $4.5 million; council asked for more detail and staff will return at the next meeting.
City finance staff presented a first reading Oct. 6 of an ordinance that would authorize an interfund loan from the city’s water fund to the wastewater fund to support a combined sewer overflow (CSO) project with an engineering estimate of about $4,500,000.
The finance presentation said the wastewater fund faces financial challenges and that the water fund currently has the cash to make a short-term loan. Staff proposed a five-year loan with interest…
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