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County approves temporary general‑fund loan to cover University Park wastewater project while grant contracts are processed
Summary
Riley County agreed to loan funds from the general fund to cover a temporary bond for the University Park wastewater lagoon project while federal/state grant disbursements and contract amendments are finalized; county expects reimbursements once grant contracts are processed.
The Riley County Commission approved a temporary loan from the general fund to cover bond payments for the University Park wastewater lagoon replacement while grant contracts and federal disbursements are still being processed.
Public works said the lagoon replacement is driven by an Environmental Protection Agency consent order and that the county required interim financing so engineering and reporting work could proceed. Staff said previously awarded grant funds will be used to retire the temporary financing once contractual provisions and disbursement processes are finalized with the grantors.
Budget staff noted the county’s internal policy limits interfund loans to $10,000 at a 6% interest rate; the proposed loan substantially exceeded that policy threshold and therefore required commission approval. The motion approved the loan and commissioners asked that University Park be charged interest in line with county policy; staff said University Park will repay principal and interest when grant funds are disbursed.
Action: commission approved the temporary loan from the general fund to pay the note; staff said they are working with grant administrators and expect to reimburse the general fund when grants are available.
