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Council authorizes up to $43 million in water revenue bonds for Signal Hill plant expansion
Summary
Summit County approved a Mountain Regional Water resolution authorizing issuance and sale of up to $43,000,000 in water revenue bonds to fund expansion and optimization of the Signal Hill treatment plant, which will increase capacity from 2.6 to 5.5 million gallons per day; the resolution passed unanimously.
Summit County Council approved a resolution on July 16 authorizing Mountain Regional Water to issue up to $43,000,000 in water revenue bonds to fund expansion and optimization of the Signal Hill Water Treatment Plant.
District presenters told the council the Signal Hill plant currently produces about "2,600,000 gallons a day" and the expansion would increase capacity to "5,500,000 gallons a day." The district estimated the base project cost at just over $34,000,000 but requested authorization up to $43,000,000 to account for tariffs, contingencies and potential cost overruns. The district said existing…
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