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The board authorized submission of a grant application for an approximately $6 million water-main extension to Benner Township and approved related financing using amortization Option Two, which allows earlier future borrowing but carries higher total interest costs.
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The proposed water extension is intended to serve the broader area and is not dependent on any single private participant. The authority said a memorandum of understanding is needed to avoid a 20% grant-match obligation. The board also approved water revenue note financing and reported $3,674,900 in outstanding debt, with operating revenue about 5% below budget.
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