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Middleton adopts Ordinance 717 to authorize up to $32 million in sewer revenue bonds
Summary
Council adopted Ordinance 717 authorizing a sewer revenue bond series 2026 in a principal amount not to exceed $32,000,000 to fund sewer system improvements; discussion addressed reserve requirements (insurance in lieu of cash) and anticipated future rate increases tied to a larger multi-phase project.
The Middleton City Council on April 1 adopted Ordinance 717, authorizing issuance of a sewer revenue bond series 2026 in a principal amount not to exceed $32,000,000 to finance improvements to the city’s sewer system.
Staff explained the ordinance provides for establishing funds, approving a loan agreement with the Idaho Bond Bank Authority, and other covenants related to registration, maturity and tax-exempt status of the bonds.…
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