City Issuing $186,080,000 In Sewer Bonds

  • Sunday, October 16, 2022

The city of Chattanooga plans to issue $186,080,000 in sewer bonds in the continuing effort to upgrade its sewage system.

The bond proceeds are to cover "construction of extensions and improvements to the System; (ii) acquisition of all property, real and personal, appurtenant thereto or connected therewith; (iii) payment or reimbursement of the payment of principal of and interest on any bonds, notes or other debt obligations issued in anticipation of the Bonds."

At the same time, the city is taking out a loan through the federal Environmental Protection Agency to cover the bond amount.

The city is under a consent decree with the EPA aimed at eliminating discharges of raw sewage into the Tennessee River as has often happened in the past.

 

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