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The Water and Sewer Board unanimously approved recommendations to issue up to $50 million in water revenue bonds and $50 million in sewer revenue bonds, with terms no longer than 20 years and interest capped at 5.25%. The bonds would help fund water-system expansion and rehabilitation, sewer improvements, wastewater facility upgrades, and additional water supplies.
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The Board also recommended creating a local improvement district to replace the Greeley Mall property's non-compliant private drinking-water system. The estimated assessment for design and construction is $3,139,946, which the property owner would be responsible for paying. The Board declared an adequate water year, meaning no additional watering restrictions are planned, while allowing excess supplies to be rented as long as storage remains at or above 21,300 acre-feet.
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