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State Representative Patti Fritz
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-8237
For more information contact: Sandy Connolly 651-296-8877
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REP. FRITZ ANNOUNCES FUNDING PACKAGE FOR MEDFORD WASTEWATER SYSTEM
St. Paul, MN – State Representative Patti Fritz (DFL-Faribault) is pleased to announce that the Minnesota Public Facilities Authority has approved a financing package for the city of Medford. The package consists of $1.5 million Water Pollution Control Revolving Fund 20-year term loan, at an interest rate of 2.24 percent. The city of Medford has the opportunity to use these funds for rehabilitation and expansion of the existing wastewater treatment system.
"I'm so pleased the city of Medford has been offered this low-interest loan as a way to address their critical wastewater system needs," said Fritz. "It is critical that our small towns are given the tools they need to bring their infrastructure up to day, especially in light of the cuts to Local Government Aid over the past few years.
I congratulate the city of Medford for its successful application."
It is estimated that the Authority's financing will save local taxpayers over $291 thousand in interest costs compared to a general obligation bond at the current market rate.
News Items
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- Rep. Fritz: Homeowners, Farmers Need Property Tax Relief - (Posted: 2012-05-01 00:00:00)
- Rep. Fritz: Let’s Vote on a Bonding Bill that Benefits All - (Posted: 2012-04-19 00:00:00)
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