Great Lakes Water Authority AgendaPacket Audit Committee Meeting 2026-05-22
GLWA to Issue $59.3M Water SRF Bonds via MFA
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Description
The Great Lakes Water Authority plans to issue up to $59.29 million in Series 2026 SRF-2/3 Junior Lien Water Supply System Revenue Bonds through the Michigan Finance Authority. The DWSRF financing will support Detroit water system improvements and lead service line replacement, with low-interest loans beginning repayment in FY 2027.
Contract Details
Contract Amount
Not to exceed $59,294,865
Vendor
MICHIGAN FINANCE AUTHORITY
Agency
Great Lakes Water Authority, MI
Contract Type
FINANCIAL_SERVICES
Document Date
May 22, 2026
Contract Term
Up to 40-year loans; debt service anticipated to begin April 2027
Renewal Info
Single bond ordinance covering two SRF loan series; no renewals, but additional series may be issued under the existing Notice of Intent. Maximum maturity not to exceed 40 years.
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