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International Falls council approves first reading of ordinance adding water treatment-plant debt-service fee
Summary
The City Council approved on first reading an ordinance that adds a separate debt-service charge to water bills to cover an estimated $850,000 annual debt for a water treatment-plant rehabilitation; the measure passed 4–1 and requires a second reading to become law.
The City of International Falls City Council on first reading approved an ordinance that adds a new, separate debt-service fee on water bills to cover rehabilitation of the city’s water treatment plant. The council voted 4–1 after a presentation by Northland Securities and consultants explaining the proposed rate structure and estimated debt service.
Tammy Bridal of Northland Securities told the council the updated utility study shows a “total estimated debt service, annual debt service is approximately $850,000,” an estimate that Northland said would be final after the loan closes and the city…
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