Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Sumner reports $13M water/sewer bond sale to pay for wastewater biosolids modernization
Summary
At a city study session April 27, CFO Cassandra Raymond told council the city sold $13 million par of water/sewer revenue bonds to fund a biosolids modernization project at the wastewater treatment plant; the issue was rated double‑A and produced a true interest cost of about 4.067%.
Sumner’s chief financial officer, Cassandra Raymond, told the council at a study session on April 27 that the city sold water/sewer revenue bonds to fund a biosolids modernization project at the wastewater treatment facility.
Raymond said the overall modernization project costs a little more than $30 million and is shared with partners under an interlocal agreement: about 53% of the capital cost is the responsibility of the City of Bonney Lake, Puget Sound Energy will cover roughly 2% (about $780,000) and Sumner will cover about 45%. Council previously authorized the issuance under Ordinance No. 2946 (November 2025), which approved the sale of bonds in a principal amount…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
