COLDWATER, MI (WTVB) – The Coldwater City Council is scheduled to pass a resolution Monday night which authorizes the issuance of debt to remove and replace lead service lines, a letter of intent approved in November 2021 by the Council.
City Manager Keith Baker stated last fall these bonds are a little unusual as they are going to be 100 percent forgiven through a Federal grant known as Booker Funds.
Once the city issues debt through the State of Michigan’s Drinking Water State Revolving Fund, the debt service on the bonds are completely forgiven in arrears.
However, the City still has to go through the same bonding process just like when any other debt is issued.
The Coldwater B.P.U. is planning on using internal staff for the lead service line replacements. The construction is planned to last for about three years.
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