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Board certifies three rate-covenant compliance items for SRF loans
Summary
The Dakota Dunes CID Board approved three Certificates of Compliance for 2025 (Clearwell, Sewer Parallel, Water Looping) required to certify debt coverage for State Revolving Fund loans; motions passed 4-0.
The board approved three Certificates of Compliance with Rate Covenant for 2025 related to its SRF (State Revolving Fund) loans: Water – Clearwell; Sewer – Parallel; and Water – Looping. Each certificate was presented as an annual requirement to certify debt coverage for the corresponding SRF loan; motions to approve were recorded as passing 4-0.
Minutes list each certificate as required annually to certify debt coverage for the SRF loan tied to the named project. The board did not record further debate or public comment on these certifications.
