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Hot Springs officials introduce wastewater rate increase tied to nearly $70 million bond plan
Summary
Finance Director Karen Scott presented the third reading of an ordinance to raise wastewater rates to fund roughly $68 million in capital improvements and revenue bonds with a principal near $69.8 million; Willdan Financial Services and Cruz and Associates will present detailed analyses at the Jan. 7 business meeting.
Hot Springs Finance Director Karen Scott told the board on Dec. 31 that the city’s wastewater system needs major capital improvements and betterments estimated at approximately $68,000,000 and that revenue bonds will be required to pay for the work.
"The proposed rates will generate the revenue necessary to fund the debt service of the bond issue…
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