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Grants Pass council adopts phased water-rate increase to back new treatment plant
Summary
Grants Pass City Council voted 6–1 to adopt a phased water-rate increase (Scenario 2) intended to improve coverage ratios and support debt service for the replacement water treatment plant after the loss of a FEMA grant. Staff will proceed with bond solicitation.
Grants Pass City Council voted 6–1 to adopt a phased water-rate increase intended to shore up coverage ratios and support debt service for the city’s replacement water treatment plant.
Jason Kenney, presenting the resolution, told the council the increase is needed after the city lost a FEMA grant that “eliminated $50,000,000 of funding” and that the council previously approved a guaranteed maximum price and tentative financing plan for the plant. “Adoption of the GMP provided council with cost certainty,” Kenney said, and the city’s consultants concluded additional borrowing could…
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