Montreal council to borrow for water infrastructure project
October 9, 2019
By KIM E. STROM
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...