The Daily Globe - Serving Gogebic, Iron and Ontonagon Counties

Montreal council to borrow for water infrastructure project

 

October 9, 2019

Kim E. Strom/Daily Globe

Ian Shackleford, with the Iron County Outdoor Recreation Enthusiast presents a map of the area that ICORE wishes to purchase with the help of a grant from the Gogebic Range Health Foundation. The Montreal Common Council approved a letter of support for the grant at Tuesday's regular meeting.

By KIM E. STROM

kstrom@yourdailyglobe.com

MONTREAL - The city of Montreal adopted a resolution to borrow $130,000 from the state of Wisconsin's trust fund to finance a water infrastructure project at Tuesday's regular meeting of the common council.

The loan would be payable in 10 years from March 2020 at a rate of 3.2% annual interest. The funds will be used to repair Well No. 5 and Well No. 3, and for injection port and tower mixer repair and engineering costs. If there are remaining funds, they will be put toward the principal of the loan, said Mayor Erik Guenard.

"The intent is to crea...



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