The city of Troy held a City Council workshop Feb. 8 to review an agreement for water plant renovation, assess a presentation on alternate bond financing and hold a discussion on water rates.
The professional services agreement would be with Gonzalez Engineering. Pat Judge, a Gonzalez representative, discussed the pros and cons of SRF funds through the IEPA low interest loan program. As a group, the workshop also discussed bidding and subcontracting, and it was noted that the water plant would be operational during the rehabilitation.
The Bank of Edwardsville gave a presentation on alternate bond financing. Its representative, Paul Millard, spoke about 15- and- 20-year loans.
During the next and last discussion, which focused on water rates for plant renovation, Alderman Dan Jackson reviewed his proposed rate schedule.
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