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Middleton council authorizes mayor to prepay USDA loan up to $2 million
Summary
The council authorized the mayor or his designee to pay off an existing USDA loan for the wastewater treatment plant — up to $2,000,000 — to avoid delays in a planned bond sale and reduce long-term interest costs; the motion passed unanimously.
Middleton’s City Council voted April 1 to authorize the mayor or his designee to make a final payment of up to $2,000,000 to prepay a U.S. Department of Agriculture loan tied to the city’s wastewater treatment plant.
Jason Ben Gilder, who identified himself to the council as Jason Ben Gilder, corporate board director, said federal review of paperwork needed to place an existing loan on parity with a new bond could delay the city’s planned Idaho bond bank sale in May. As an alternative, he said, the city could pay off the…
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