ST. PAUL – State Rep. Dean Urdahl, R-Acton Township, announced the city of Darwin will receive a financing package of $1.3 million for the construction of a new water filtration plant.
The Minnesota Public Facilities Authority approved the package, which includes two financing components. The key portion is a $913,000 principal-forgiveness grant. The remaining $377,000 is a Drinking Water Revolving Fund loan, payable over 30 years at a 1.150-percent interest rate.
The MPFA estimates the financing terms provided to Darwin will save local taxpayers nearly $174,000 in interest costs when compared with current market rates for general obligation bonds.
“This is great news for the city of Darwin and for local taxpayers,” Urdahl said. “Darwin officials deserve congratulations for their dedication to the city's infrastructure and for submitting a successful application.
Dean Urdahl represents District 18A in the Minnesota House of Representatives. Rep. Urdahl can be contacted by email at email@example.com or by phone at 651-296-4344. To receive email updates sign-up on his webpage at www.house.mn/18a.