City approves $2.56 million draw for wastewater plant work and transfers $281,856 for interim-loan interest

City elected bodies on Sept. 8 approved multiple payments and a budget transfer tied to the new Seminole Wastewater Treatment Plant.

The City (via the authority/board motions recorded in the joint meeting) approved drawdown/invoice number 12 from Crossland in the amount of $2,555,255.89 for work completed at the wastewater treatment plant. Staff told the council the project is about 58% complete and estimated remaining work could take roughly 10 months to a year. Officials also said that the project has interim financing through Bank First and that interest costs are rising as construction spending increases.

Separately, the council approved resolution SMA 2025-02 to transfer fiscal year 2024–2025 surplus budget funds between water/sewer fund departments and to appropriate $281,856.27 to the water/sewer fund for interest on debt service associated with construction of the new wastewater treatment plant. Staff identified the appropriation as interim-loan interest tied to the construction line of credit; members asked whether the amount represented monthly or annual interest and were told it was a monthly amount that grows as the line of credit balance increases.

Council members moved and seconded each payment and transfer; roll-call votes passed the motions. Council discussion noted the city expects interest to decline once permanent financing replaces the interim loan.

The meeting also approved Wall Engineering invoice number 21 in the amount of $26,797.38 for engineering work on the wastewater plant. That payment was approved by roll call with the motion passing.