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Woodland to apply $1 million reserve to water-treatment loan; staff to confirm Dept. of Ecology compliance
Summary
Mayor Todd Deinhardt said the city will use a $1,000,000 reserve to reduce a $1.6 million loan taken in 2023 for filters 2 and 3 at the water treatment plant; staff will check with the bank and Department of Ecology on amortization and compliance.
Mayor Todd Deinhardt told the council the city plans to apply a $1,000,000 reserve to reduce a $1,600,000 loan taken in 2023 to fund filters 2 and 3 at Woodland’s water-treatment facility.
Deinhardt said the loan carries a 2.25% interest rate and a 20-year amortization, while the useful life of the filters is estimated at 10 years (possibly 15 with process changes). He said the city may be technically out of compliance with Department of Ecology requirements as of February 2025 and that staff…
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