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Norwalk approves $5.924M loan to finance Central Iowa Water Works buy‑in
Norwalk City Council · November 7, 2025
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Summary
Council approved a State Revolving Fund water revenue loan to finance Norwalk’s $5.924 million purchase of membership/equity in Central Iowa Water Works, with a marketable rate near 3.26% and closing scheduled in mid‑December.
The Norwalk City Council on Nov. 6 approved a loan agreement to finance the city’s buy‑in to Central Iowa Water Works using the Iowa Finance Authority’s State Revolving Fund.
The loan: Finance staff told council the loan principal is $5,924,000 with origination and servicing fees; the effective loan…
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