City accepts $30.3 million loan to proceed with wastewater treatment plant improvements
New signage also approved for JBS Field House.
WORTHINGTON — In a brief meeting Friday noon, the Worthington City Council approved a resolution accepting a low-interest loan through the Minnesota Public Facilities Authority (PFA) to finance improvements to the city’s wastewater treatment facility.
Worthington Public Utilities (WPU) and the city will receive $30,322,821 from the PFA to pay for the project. Repayment of the loan will be at 1% interest over 20 years.
“The state will issue tax-exempt bonds,” noted WPU Manager Scott Hain. WPU will repay the note with funding reserves and revenues generated from water users.
In other business, the council:
Approved a temporary on-sale liquor license for the Nobles County Fair Association for a Sept. 19 event at the Worthington Speedway.
Accepted two estimates for a sign to be placed at the new JBS Field House along Second Avenue. The first, in the amount of $50,697, is for Harvey Sign Service to construct a monument sign; and the second, in the amount of $48,370, is for Daktronics to install a 4- by 8-foot, double-sided high definition digital display into the monument.