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Kalispell authorizes $5.225 million in bonds for wastewater dewatering project
Summary
Council approved Resolution 62-93 to authorize $5,225,000 in sewerage system revenue bonds (DNRC/SRF), including $850,000 subordinate taxable series forgiven and $4,375,000 tax-exempt for 20 years at about 2.5%, to fund a wastewater dewatering project.
The Kalispell City Council approved Resolution 62-93 on a roll-call vote to finance a dewatering project at the city wastewater treatment plant. Staff recommended the resolution and summarized the financing package as $5,225,000 in loans, with $850,000 of that amount described as subordinate taxable loan that would be forgiven and $4,375,000 financed as a 20-year tax-exempt series at a fixed rate of 2.5%.
Mister Nygren presented the financing terms to the council and said staff recommended approval. Councilor Graham moved to approve the resolution, which the motion described on the record as a DNRC/State Revolving Loan Program financing with two series: an $850,000 subordinate lien taxable Series 2025C and a $4,375,000 tax-exempt Series 2025D. A second was recorded and the roll-call vote recorded ayes; the motion carried.
The bonds will fund work at the wastewater treatment plant described as the dewatering project; transcript remarks did not specify a construction schedule or timeline for expenditure disbursement. Any additional conditions or official closing details will be finalized in later financing documents and staff actions.
