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Kalamazoo adopts $101.18 million water bond and approves construction contracts for pump stations and mains
Summary
The Kalamazoo City Commission on July 7 adopted an ordinance authorizing Water Supply System Revenue Bonds Series 2025B not to exceed $101,180,000 and approved related construction and engineering contracts for pump station reconstruction and street-level utility work.
The Kalamazoo City Commission on Monday adopted an ordinance authorizing Water Supply System Revenue Bonds, Series 2025B, in an amount not to exceed $101,180,000 and approved several related construction and engineering contracts to repair and upgrade the city’s drinking-water infrastructure.
The bond ordinance, approved by unanimous roll call, will fund a package of water-system projects the city has been scheduling for several meetings. City staff said the structure — a 40-year loan at roughly 2% interest — reduces borrowing costs and includes principal forgiveness tied to program terms.
"This bond is over 40 years at 2% interest... that's gonna be over $20,000,000 in interest that we're not gonna have to pay…
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