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Council approves refinancing to fund regional recycling facility; completion expected August 2026
Summary
Council authorized a $13 million certificate of participation to refinance short-term notes and support the MRF at 32 Road. Staff said the facility will not generate revenue until August 2026, so the issuance includes capitalized interest to cover early costs.
The City Council approved an ordinance Oct. 15 authorizing refinancing of a short-term special revenue note to finance the city’s regional materials recovery facility (MRF) at 32 Road.
CFO Jay Valentine described the financing as a certificate of participation (COP) secured by the building and equipment rather than general-fund…
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