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The board unanimously approved Resolution SVCFD2 2025-008 authorizing up to $2.5 million in general obligation bonds for large sewer improvements along the Meridian Road alignment.
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The bonds will reimburse part of the developers’ prior improvement costs, with additional funding requests expected in the future. The interest rate cannot exceed 8% and is expected to be lower. The bonds will be repaid over time through a tax on taxable property in the district, and residents cannot prepay them.
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