Everett council could issue more than $200 million in bonds
EVERETT — The Everett City Council will decide in two weeks whether it will issue more than $200 million worth of bonds, which could be repaid through a variety of funding sources, to pay for city projects.
The bonds would help pay for city construction work as well as water and sewer projects, including the Port Gardner Storage Facility.
The water and sewer revenue bond would total $181 million, to be repaid via the city’s water and sewer utility fund. The City Council approved rate increases in January to help pay back the bonds and cover an increase in construction costs.
Two other smaller bonds, known as limited tax general obligation bonds, would go toward a variety of construction work. A $21 million bond would help pay for improvements to the Everett Municipal Building and the replacement of the Edgewater Bridge. That debt would be repaid via city capital improvement funds. The city is already using capital improvement dollars to repay bonds issued in 2012 and 2019, according to Everett’s 2025 budget.
https://www.heraldnet.com/news/everett-council-could-issue-more-than-200-million-in-bonds/