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City told SRF ranked its pump-station and Hilltop projects No. 7; $10M grant cap and $49M loan limit shape financing
Summary
Engineers and bond counsel told the council Mineral Wells' SRF application ranked well (No. 7). Presenters outlined a financing illustration for a roughly $71'72 million package with a $10 million principal-forgiveness cap this fiscal year and up to $49 million in low-interest loans; remaining gap would require public-market financing.
City staff and outside advisers briefed the Mineral Wells City Council on the status of its Clean Water and Drinking Water State Revolving Fund (SRF) applications and an illustrative financing plan for large water-system projects.
Speaker 11 and bond counsel Rudy Segura (Speaker 9) said the city's project package, including the Brazos pump station, pipeline and the Hilltop water-treatment plant, scored number seven among roughly 298 eligible project information forms in the most recent SRF ranking. That position makes the city a competitive candidate for SRF invitations to apply if the Texas Water…
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