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Norwalk council sets public hearing on proposed $6 million water loan to join Central Iowa Water Works
Summary
Council voted Oct. 16 to set a public hearing on a water revenue loan and disbursement agreement to borrow up to $6,000,000 for the city's buy‑in to Central Iowa Water Works; council passed the resolution by roll call.
Norwalk — The Norwalk City Council approved a resolution on Oct. 16 to set a public hearing on a proposed water revenue loan of up to $6,000,000 for the city's buy‑in to Central Iowa Water Works.
Mayor Phillips said the item should have been on the consent agenda but presented it for council action to set the hearing date. The loan would fund the city’s buy‑in to the regional water authority; staff described the $6 million figure as an approximate principal amount for the buy‑in.
Council moved and approved the resolution by roll call with unanimous support. Staff said details of the proposed borrowing and a public hearing notice will follow ahead of the scheduled hearing date.
