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Cedar Falls council approves up to $11 million sewer planning loan for water-reclamation design
Summary
The City Council approved a resolution to pursue a not-to-exceed $11 million sewer revenue capital loan note to finance design work for water reclamation improvements, using a 3-year no-interest planning loan through the Iowa Finance Authority’s state revolving fund.
The Cedar Falls City Council on Aug. 18 approved a resolution to institute proceedings for a loan and disbursement agreement and the issuance of not-to-exceed $11,000,000 in sewer revenue capital loan notes to pay for design costs related to the city’s water reclamation improvements project.
City staff said the Iowa Finance Authority’s state revolving fund offers a three-year, no-interest planning-and-design loan that will be rolled into a low-interest…
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