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Two Rivers to borrow $496,676 at 0% from WPPI Energy for utility upgrades
Summary
Council approved a resolution to borrow $496,676 from WPPI Energy at 0% interest on a 10-year schedule to fund electric meters, substation security and generator repairs at the water treatment plant, intended to improve reliability and security.
Two Rivers city council unanimously approved a resolution on April 6 authorizing borrowing $496,676 from WPPI Energy at 0% interest for priority utility infrastructure and equipment projects, including electric meters, substation security upgrades, and generator repairs at the water filtration plant.
Staff described the financing as a 10-year repayment schedule at 0% interest and said it would not affect traditional capital borrowing through bonds. Utilities staff said roughly two-thirds of the amount supports electric improvements and about one-third supports water-system work, including a completed generator transfer-switch repair that will be offset by the loan.
Council approved the resolution by roll-call vote.
