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Price City approves $300,000 stormwater loan after public hearing
Summary
Price City held a public hearing and approved a resolution authorizing up to $300,000 in stormwater utility revenue bonds (resolution 2025-6) to fund stormwater system improvements; most project funding comes from federal/state grants and a low-interest Community Impact Board loan.
Price City held a public hearing on Feb. 26, 2025, and approved a resolution authorizing a stormwater utility revenue bond that the city expects to borrow in the amount of $300,000 to fund stormwater system improvements.
At the public hearing City Attorney Eric Johnson described the financing package and noted that roughly 96% of the project will be funded through grants, including funding from the Natural Resources Conservation Service (NRCS), with the city seeking a local match and a loan from the Community Impact Board (CIB). Johnson said the CIB approved a $300,000 loan at an interest rate of 0.5% (one-half of…
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