Knoxville City Council holds hearing for sewer revenue loan deal | Radio KNIA KRLS




Knoxville City Council holds hearing for sewer revenue loan deal | KNIA KRLS Radio – The One You Can Count On

































Knoxville City Council has approved a resolution to set a date for a public hearing on a proposal to enter into an agreement to loan and disburse sewer revenue and borrow principal money not to exceed $5,970 $000. Knoxville City Manager Heather Ussery spoke to KNIA/KRLS News about the deal.

“This is the first step in securing a loan agreement to fund our water reclamation facility upgrade project in 2022. These are upgrades required by MNR. Last year we took out a zero interest loan to help finance the engineering costs of the project. This is now the first step in financing the construction of the app through the Iowa Finance Authority. This type of sewer revenue financing is set up before projects like this with a very low interest rate.

The public hearing is scheduled for the next council meeting which is May 2 at 6:15 p.m.



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Leslie M. Gill