If you don’t know about the relationship between state low-interest loans for city wastewater and water projects, city bond offering documents and Proposition A‘s proposed ban on project labor agreements, you will probably want to read this to the end.
Fact is, they have a lot in common and it’s an interesting relationship.
On May 22, the City Council will vote on two agenda items, 51 and 52, that allow the city to borrow money from the State Revolving Fund (SRF) program at a “low 2.0933% for a 20-year term.” Both items are for public infrastructure projects; one is for wastewater and the other is for replacing old water mains. Combined, the city is seeking to borrow approximately $30 million at this low rate of interest.
Some background in the agenda: