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Lake View City Council Approves Moving Forward With Financing For Well Water Project

The Lake View City Council is continuing with the well water project by scheduling a public hearing and entering into an agreement with Dorsey & Whitney LLP to handle the loan process. During its Monday, Aug. 4 meeting, Lake View council members reviewed and approved to schedule a public hearing to enter into a loan agreement not to exceed $348,000, which is covering the reciting of the city’s number three well and to construct a new water main. The original amount of $278,000 provided by JEO Consulting did increase due to additional work being put in to recite the well. The city will pay zero percent interest on the initial $278,000 with the SRF loan. The public hearing has been scheduled for Aug. 18. The council then proceeded to approve of the agreement with Dorsey & Whitney LLP to oversight the legalities of the loan and its process for $21,000. With the agreement and public hearing in place, the City of Lake View is in the next steps to begin the well construction project which is scheduled to take place within the next few months.

 

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