Commission authorizes interim borrowing for BGMU water and sewer projects
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Summary
Bowling Green approved a municipal order to authorize issuance of water and sewer revenue bond anticipation notes to finance three medium-sized BGMU projects; BGMU officials said interim financing will support design and early construction and that a later financing package will reflect final costs.
The Bowling Green Board of Commissioners on Nov. 4 authorized the city-owned utility (BGMU) to issue water and sewer revenue bond anticipation notes to begin design and early construction on three system projects.
Mark Iverson, representing BGMU, told the commission that the utility is addressing aging infrastructure — including pipe‑gallery components approaching 100 years in service — and that construction costs have risen significantly. He said the city added roughly 50% capacity to its water treatment plant in a recent roughly $50 million project and that interim financing is necessary to begin work on projects that will be packaged later into longer‑term debt.
Iverson described the construction‑manager‑at‑risk delivery approach BGMU will use to better coordinate design and pricing during early phases. He said interim financing will let the utility complete design and early construction work before finalizing the long‑term financing package.
Commissioners asked about timing, project scope and water quality; Iverson said the timing is ideal to address pipeline access that previously was not possible and reiterated that BGMU’s recent investments help provide capacity for needed work. The commission moved, seconded and approved the authorization by roll call.
Next steps: BGMU will advance design and early construction under interim financing and return with a finalized long‑term financing package.