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Council reviews plan for $14 million water and sewer revenue bonds to fund infrastructure projects
Summary
City staff described a plan to issue up to $14 million in water-and-sewer revenue bonds at a subsidized 2.25% rate to replace pump stations, line sewer mains and rehabilitate manholes; no vote was taken — item was a first reading and will return at public hearing.
City staff presented a proposal on Jan. 14 to authorize up to $14 million in water- and sewer-system revenue bonds to pay for multiple capital improvements to Winchester's utility system.
Perry Eisenach, the item presenter, described the loan as a 20-year financing at an estimated 2.25% interest rate through a federally subsidized program that would require compliance with federal rules but yield a lower borrowing cost. "This particular loan would be for $14,000,000. It's a…
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