Britt Water Project Loan is Approved

The city of Britt is looking to tackle two projects at once, both for the benefit of Britt residents. The Britt City Council met to hold a public hearing and subsequent approval of the Water Revenue Capital Loan not to exceed $500,000. Speer Financial will handle the brokering of the notes to fund the loan which will pay for a new waste water treatment plant and water treatment plant.

Britt Mayor Ryan Arndorfer described how the waste water treatment plant was the first of two concerns he had for the city.

City officials realized the need to begin work on both facilities, but it would take the Iowa Department of Natural Resources (DNR) to get the process moving forward. According to Arndorfer, Britt became a forward thinking city when it came to tackling both projects.

Plans are being laid out to construct the facilities and move the project forward. A resolution was approved for the preliminary term sheet for $440,000 and the notes to pay for the loan were also approved by the city council.

 

 

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