FINANCIAL_SERVICESAPPROVED

City of Herington Regular Meeting Agenda Packet March 2026

City of Herington Secures $3.6M KDHE Loan for Wastewater Upgrades

Not to exceed $3,614,120 (Loan principal, plus scheduled interest over 31-year amortization)City of HeringtonKANSAS DEPARTMENT OF HEALTH AND ENVIRONMENTMarch 3, 2026

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Description

The City of Herington executed a $3.61 million loan agreement with the Kansas Department of Health and Environment, effective February 9, 2026, for Phase II improvements to the city’s wastewater treatment plant, with 31-year repayment terms and a 3.35% interest rate.

Contract Details

Contract Amount

Not to exceed $3,614,120 (Loan principal, plus scheduled interest over 31-year amortization)

Vendor

KANSAS DEPARTMENT OF HEALTH AND ENVIRONMENT

Agency

City of Herington, KS

Contract Type

FINANCIAL_SERVICES

Document Date

March 3, 2026

Contract Term

Effective date: February 9, 2026; repayment period: 3/1/2028 to 9/1/2057 (60 payments, 31 years)

Renewal Date

2057-09-01

Renewal Info

Loan term is 31 years. Repayment schedule provided. Option to prepay principal without penalty with KDHE consent. Guarantee requirements and project/performance certifications included.

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