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Dakota Dunes CID certifies three 2024 SRF rate covenants for water and sewer projects
Summary
The board approved Certificates of Compliance for 2024 rate covenants covering the Clearwell water project, a parallel sewer line, and a water looping project — each required to certify debt coverage under the State Revolving Fund (SRF). Motions passed unanimously.
The Dakota Dunes Community Improvement District Board on Feb. 18 approved three Certificates of Compliance attesting to the district's adherence to rate covenants for 2024 related to SRF loans. The certificates cover the Water—Clearwell project, the Sewer—Parallel project and the Water—Looping project; each certification is required annually to verify debt coverage for the respective SRF loan. Board member Wetz moved the approvals and Board member Finzen seconded; each motion passed 4-0.
The certifications preserve the district's standing with the State Revolving Fund lenders and were entered on the consent agenda during New Business. No additional funding amounts were specified in the minutes for these certifications beyond their identification with the named projects.
