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Finance Committee reviews amortization options for wastewater treatment plant loan
Summary
At its July 28 meeting, Spring Grove Treasurer Tina Witt presented amortization schedules for potential wastewater treatment plant loans of $13,000,000, $11,000,000 and $8,000,000; committee members discussed loan forgiveness, needed repairs, a proposed expansion and a sewer rate study but took no formal action.
Treasurer Tina Witt told the Village of Spring Grove Finance Committee on July 28 that staff prepared proposed amortization schedules for potential wastewater treatment plant loans of $13,000,000, $11,000,000 and $8,000,000. The meeting took place in the Municipal Centre Council Chambers and was chaired by Bob McMahon.
Committee members discussed several financing and operational issues tied to the potential loan, including the possibility of loan forgiveness programs, upcoming repairs at the treatment plant, a proposed expansion and the potential impact on utility customers. Members also discussed conducting a sewer rate study to model how different financing options would affect rates.
The discussion focused on comparing the three amortization scenarios and their implications for the village budget and capital planning; the minutes record that Treasurer Witt provided the three schedules but do not show a formal motion or vote on any loan option. No public comments were made on the item. The committee did not record any formal action on the loan during the July 28 meeting.
