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Council adopts declaration of intent to preserve reimbursement options for Westminster Water Reuse Project
Summary
Council adopted Resolution/Ordinance 26‑07, a declaration of official intent that preserves Westminster’s ability to reimburse qualifying pre‑closing project expenditures from future borrowing for the Westminster Water Reuse Project; staff outlined expected loan components of roughly $9M (tax‑exempt) and $7M (taxable with principal forgiveness).
The Mayor and Common Council adopted Resolution/Ordinance 26‑07, a declaration of official intent concerning the Westminster Water Reuse Project that preserves the city’s option to reimburse qualifying project expenditures from proceeds of future borrowing.
Staff reported that the Maryland Water Infrastructure Financing Administration (MWIFA) has ranked the project sufficiently on its intended…
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