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Council approves signing of state loan agreement to fund water-tower engineering
Summary
Newport City Council approved a State Revolving Loan Fund agreement to pay engineering fees for a proposed water tower project (engineering amount discussed at $13,900); councilors confirmed favorable loan terms (no interest noted on the obligation page) before voting to approve the document and begin engineering.
The Newport City Council voted Dec. 19 to authorize signing a State Revolving Loan Fund (SRF) agreement to cover engineering costs for a proposed Derby‑area water tower.
City staff explained the SRF contract covers engineering work and identified an engineering-fee figure — discussed in the meeting as $13,900. Council members sought clarification about repayment timing and penalties; staff pointed to the agreement’s terms and noted the SRF page describing obligations listed no interest or administrative fees for the engineering obligation.
A formal motion to approve signing the SRF agreement was made, seconded and approved by voice vote. Councilors indicated the engineering work will put the water tower project onto the state’s construction list and allow the city to move toward construction if later approvals and funding are secured.
Next steps: Staff will execute the SRF agreement and proceed with engineering coordination; further construction funding and schedules remain subject to later approvals and budget actions.
