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Council and staff detail plan for new wastewater plant, $55 million borrowing and readiness-to-serve charge
Summary
Staff outlined plans to borrow roughly $55 million to fund a new wastewater treatment plant and related infrastructure, discussed readiness-to-serve charges for properties approaching sewer connections, and noted a $5 million septic-to-sewer grant that would reduce connection impact fees for qualifying properties.
City utilities staff described the status of a multi-year wastewater plant replacement and the financing strategy for the project.
Staff presentation and plan Utilities staff said a cash‑flow analysis indicates the utility will likely need to borrow roughly $55 million in December to fund the remainder of project construction and related contingency. Staff said the process will begin in the fall with financial consultants and bond counsel; the city has worked with Raymond James and PFM on municipal financing matters.
Rates and allocation Council and staff discussed a “readiness‑to‑serve” charge to bill property owners in…
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