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Kokomo council authorizes bond cap up to $50 million for final sewer upgrades; rate increase set for Nov. 24 hearing
Summary
The Kokomo Common Council on first reading approved an ordinance authorizing up to $50 million in sewage-works revenue bonds to complete the final phase of the city’s combined-sewer-overflow work and scheduled a public hearing Nov. 24 on a proposed rate increase.
The Kokomo Common Council on first reading approved an ordinance allowing the city to issue sewage-works revenue bonds in an amount not to exceed $50,000,000 to complete the final phase of combined sewer overflow (CSO) work and related plant improvements.
John Pike, the city’s director of engineering, told the council the project is the last required phase of a long-term control plan tied to federal Clean Water Act requirements and an agreed order the city submitted in 2007. Pike said prior delays were caused by contaminated soils found during earlier work and that the base construction bid for the immediate interceptor replacement is roughly $24 million with a potential $8 million alternate, putting the likely range at about $24 million to $32 million. Pike said the city does not have sufficient current revenue to complete the work and therefore must…
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