D. Long-term debt and liabilities (continued)

City Council Meeting · 2026-04-28 · agenda_item

This agenda item concerns the City of Groveland's long-term debt related to its water and sewer system. Specifically, it details past borrowing and refunding actions, including notes issued in 2016 and refunded in 2021, and a local bank loan from 2021 to refund previous bonds and notes. The most recent note, Series 2021, was issued for $7,472,000 and matures in 2040, secured by the water and sewer system's revenue. As of September 30, 2022, the outstanding principal on this note was $6,972,000. This item is under review as part of a continued discussion on long-term debt. While no new construction is described, the ongoing management and potential future refinancing of these water and sewer system debts could involve civil engineering, financial consulting, and legal services. Businesses specializing in municipal finance, debt management, and utility infrastructure planning may find opportunities to engage with the city as these financial matters are discussed and managed.

borrowed

1927000 $

borrowed

5000000 $

interest

2.55 %

principal outstanding

1383000 $

principal outstanding

3656000 $

borrowed

7472000 $

aggregate principal sum

3523894 $

aggregate principal amount

1585712 $

aggregate principal amount

1383000 $

aggregate principal amount

3656000 $

interest

2.04 %

principal outstanding

6972000 $