Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Water Treatment Project topic
No spam. Unsubscribe anytime.
Tower council approves $1.21 million revenue note for water treatment project
Summary
The council approved a $1,211,127 General Obligation Revenue Note and related PFA financing for the Water Treatment Facility and authorized Pay Application #7 to Lakehead Constructors; all motions passed unanimously.
The City of Tower council on April 14 approved financing and contractor payment for the city's Water Treatment Facility project. Councilor Joe Morin moved and Councilor Bob Anderson seconded approval of the Minnesota Public Facilities Authority bond purchase and project loan agreement; the motion passed unanimously.
The council then approved Resolution 2025-003 authorizing issuance and sale of a $1,211,127 General Obligation Revenue Note, Series 2025A, to finance the project. Council also approved Pay Application #7 to Lakehead Constructors for work on the treatment facility. Clerk/Treasurer Michael Schultz was present and recorded the motions and actions.
Why it matters: the financing secures state-related loan and bond mechanisms the city will use to complete a major utility upgrade. The vote signals council support for continued construction and payment to the prime contractor.
Details and next steps: Resolution 2025-003 and the PFA agreement were approved on motions by Councilor Morin and seconded by Councilor Anderson; all votes were recorded as unanimous. Council did not attach conditions to the bond authorization in the recorded motion. The council will continue to receive project updates and pay applications as construction and invoicing proceed.
