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The Authority unanimously approved supplemental bond resolutions for the Rensselaer Lake and Basic Creek dam safety projects, along with payments of $146,768 to the IRS and $600 to AMTEC for excess bond-interest earnings and $2,500 to Cerity Partners.
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The approved bond amendments update financing for two dam safety projects so the Authority can reflect revised project costs and proceed with required financing steps. The Authority must also return excess interest earned on unspent bond proceeds to the IRS under federal tax rules. A public hearing will be scheduled, but its date and time were not available in the minutes.
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