Great Lakes Water Authority AgendaPacket Audit Committee Meeting 2026-05-22
GLWA to Issue $12.96M Sewer SRF Bonds via MFA
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Description
The Great Lakes Water Authority plans to issue up to $12.96 million in Series 2026 SRF-6 Junior Lien Sewage Disposal System Revenue Bonds through the Michigan Finance Authority to fund Detroit sewer rehabilitation projects in Hubbard Farms and North Corktown. The low-interest Clean Water State Revolving Fund financing will support DWSD capital improvements, with debt service beginning in FY 2027.
Contract Details
Contract Amount
Not to exceed $12,963,500
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 loan; debt service anticipated to begin April 2027
Renewal Info
Single bond issuance under CWSRF; no renewals, but additional series may be issued under existing Notice of Intent. Maximum maturity not to exceed 40 years.
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