Skagit PUD Board of Commissioners Agenda Packet April 2026
Skagit PUD Seeks $750K Pre-Construction Loan for Panorama Tank
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Description
Skagit PUD Board is asked to authorize the general manager to enter into a $750,000 pre-construction funding agreement with the Public Works Board to complete final design and bid documents for the Panorama Storage Tank. The five-year loan carries a 1.06% interest rate and is secured by net revenues from the domestic water system.
Contract Details
Contract Amount
$750,000.00
Vendor
PUBLIC WORKS BOARD
Agency
Skagit PUD, WA
Contract Type
FINANCIAL_SERVICES
Document Date
April 14, 2026
Contract Term
Agreement execution date through June 1, 2031; 5-year loan term for repayment
Renewal Date
2031-06-01
Renewal Info
Loan term is five years at 1.06% interest with annual payments of approximately $154,803 beginning after execution; no renewal options are described.
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