June 12, 2025 — hmm, 2025, not 2026? Mayor Grady Parsons only announced it publicly during the “roundtable” (the after meeting, meeting) claiming it was just awarded. DEQ announced it last year.
Debt…
BOISE – The Idaho Department of Environmental Quality (DEQ) today awarded $695,250 in low-interest drinking water lead service line loan funding to the city of Arco in Butte County, Idaho.
The funding will be used to inventory and replace lead drinking water service lines. (which were all replaced in 2014)
The funding comes from the Infrastructure Investment and Jobs Act, otherwise known as the Bipartisan Infrastructure Law, which supports the inventory and replacement of lead service lines within a public drinking water system. The loan carries a simple 1% interest rate, is payable over 30 years, and has $424,395 in principal forgiveness. The favorable loan terms represent a $1,075,246 savings to the community when compared to average costs for municipal general obligation debt issuances.
We’re in the money…..