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Tag: bonds

City of Longmont Ballot Question 3C: Water system improvements bonds

What it asks: Shall the City of Longmont be authorized to borrow up to $80,000,000 for the purpose of financing water system improvements, including but not limited to the Nelson Flanders Water Treatment Plant Expansion Project and replacement of aging water system infrastructure like treated water storage and raw and treated water transmission lines; and shall the borrowing be evidenced by bonds, loan agreements, or other financial obligations payable solely from the City’s water utility enterprise revenues and be issued at one time or in multiple series at a price above, below or equal to the principal amount of such borrowing and with such terms and conditions, including provisions for redemption prior to maturity with or without payment of premium, as the City may determine?

What it means: Longmont is asking voters’ authorization to sell up to $80 million in bonds — backed by a five-year schedule of water rates

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