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FPUA authorizes $15 million non‑revolving line of credit and reimbursement resolution to bridge capital projects
Summary
The Fort Pierce Utilities Authority authorized a non‑revolving utilities revenue note (line of credit) not to exceed $15 million and adopted a reimbursement resolution to allow reimbursement of prior capital expenditures when bonds are issued in 2026.
Fort Pierce — The Fort Pierce Utilities Authority board on Oct. 7 authorized a non‑revolving utilities revenue note (series 2025) in a principal amount not to exceed $15 million to provide interim financing for capital projects and approved a reimbursement resolution permitting the authority to reimburse certain expenditures with future bond proceeds.
Michelle (CFO) presented the staff recommendation and the financing adviser PFM summarized the competitive procurement process for the line of…
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