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Lead commission approves $841,000 revenue bond for Park Avenue waterline
Summary
The Lead commission approved Resolution 2024-11 to secure an $841,000 revenue loan to replace the Park Avenue waterline, changing the design to an 8-inch main and authorizing sealed bids. The loan will be repaid from drinking-water revenues; the Deadwood sanitary district agreed to pay about half of the project cost.
The Lead city commission voted Oct. 7 to approve Resolution 2024-11, a revenue bond authorizing up to $841,000 to fund the Park Avenue waterline replacement.
A state representative briefing the commission said the original engineer estimate was about $1.3 million, but design changes and participation by the Deadwood sanitary district reduced the needed draw to roughly $800,000. "This bond doesn't require, doesn't require a surcharge because you…
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