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Council sets public hearing on loan up to $1,016,000 for Cap Court lift station
Summary
The Peosta City Council set an Aug. 11 public hearing on a sewer-revenue loan and disbursement agreement to finance the Cap Court lift station, authorizing a borrowing amount not to exceed $1,016,000.
Council approved a resolution to set a public hearing on a proposed sewer revenue loan and disbursement agreement to finance the Cap Court lift station project, with a principal amount not to exceed $1,016,000.
A council member clarified that the amount and hearing date (August 11) were in the resolution; the motion to set the hearing passed on a roll-call vote. Staff described the action as a standard step to allow public input on taking the debt and related bids for the lift-station work.
The resolution only schedules the public hearing and does not finalize borrowing or contract awards; councilors said the hearing will include a presentation of the proposed loan terms and project specifications.
