Friday - July 19, 2013

Lake Oswego City Council authorizes sale of $101 million in bonds for expanded water system

By Victoria Edwards, The Oregonian

The Lake Oswego City Council authorized the sale of $101 million in bonds Tuesday to pay for a larger and upgraded water system – a move that marks the transition from years of planning to construction of the city's largest and most expensive infrastructure project.

The council voted 5-2 to approve the sale of the full faith and credit bonds, which will be paid off over the next 25 years with increases in water rates.

Councilors Karen Bowerman and Mike Kehoe voted against the majority.

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