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Granbury council approves application to seek $18 million from Texas State Infrastructure Bank
Summary
The Granbury City Council voted to file a State Infrastructure Bank application to finance utility relocation for a March breakout project, authorizing the city manager to act on the application; staff estimated an $18 million request with extra contingency and said the loan rate would be about 10 basis points above the MMA rate at filing.
The Granbury City Council voted to adopt Resolution No. 2506 on Feb. 18, authorizing the city to file an application for financial assistance from the Texas State Infrastructure Bank (SIB) and empowering the city manager to act on the application.
City Manager Caulkin told the council the SIB application would be used to finance relocation of utilities for a “March breakout” project and that staff had prepared a partially completed application. He said the city planned to request about $18,000,000 “all in,” including added contingency, and…
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