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Crockett council approves multi-part financing package to repair and expand water and wastewater systems
Summary
The City of Crockett approved ordinances and resolutions to accept a multi-part financing package — including a $3.1 million 0% loan and principal-forgiveness agreements — to rehabilitate aging wastewater infrastructure and expand plant capacity; council also approved asset-management funding and a rate-study plan.
Crockett’s City Council voted to approve a series of ordinances and resolutions authorizing a multi-part financing package to repair and expand the city’s water and wastewater systems.
City staff and finance advisers told the council the package funds rehabilitation of a wastewater treatment plant largely built in the 1970s, replacement of degraded collection infrastructure and capacity increases to accommodate growth. Ben Rosenberg, identified by staff as the city’s finance adviser, said the package includes both low-interest loans and a $3.1 million 0% interest loan. "The biggest loan, $3,000,000,…
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