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Lamar council approves sewer revenue bond framework and $2.08 million construction amendment for pretreatment project
Summary
The council approved a resolution authorizing a sewer revenue loan agreement (not to exceed $45.7 million) and separately approved Amendment No. 2 with Bolton & Mink Inc. for construction-phase services with a not-to-exceed fee of $2,080,000 for the industrial pretreatment facility project.
The Lamar City Council on Dec. 2 approved a resolution to enter a sewer revenue loan agreement for the wastewater industrial pretreatment facility and also approved Amendment No. 2 to Bolton & Mink Incorporated’s services contract to provide construction-phase services, with a not-to-exceed fee of $2,080,000.
The council opened a public hearing on financing for phase 2 of the wastewater industrial pretreatment facility and said the city would issue a sewer revenue bond in a principal amount not to exceed $45,700,000. Council members said industrial users will reimburse the city for the bond repayment.
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