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Sunnyvale authorizes up to $50 million in state SRF financing for wastewater plant upgrades
Summary
Council approved a resolution authorizing the city manager to execute an installment sale agreement and related documents for up to $50 million in State Revolving Fund (SRF) financing to support the wastewater pollution control plant rehabilitation project; staff said the SRF loan would lower borrowing costs compared with taxable debt.
The City Council authorized the city manager to enter into an installment sale agreement for up to $50 million in State Revolving Fund financing with the State Water Resources Control Board to fund work on the city’s wastewater pollution control plant rehabilitation project.
Public works staff explained the SRF loan would carry a very favorable interest rate (2.1% as quoted in April) and could replace higher‑cost pay‑as‑you‑go expenditures or taxable borrowing in the project financing mix.…
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