Public hearing on proposed painting and upgrades to the Township-owned 500,000 gallon water tank on Swedetown Hill.
At 1 p.m. on May 29, at the Calumet Township office, 25880 Red Jack Road, the Township Board will conduct a public hearing for the proposed water tank project on Swedetown Hill. The project is estimated to cost approximately $504,300 and will include painting the exterior and interior of the Township owned 30-year-old steel water tank as well as safety and operational upgrades to the tank. The Township proposes to finance at least $404,300 of the project cost and pay the balance of the cost from the Township water fund.
The project financing proposed is the sale of bonds to the State of Michigan Drinking Water Revolving Loan program. The interest rate is 2% and the term will be 20 years.
The Township Water Fund has sufficient cash to pay at least $100,000 toward the project. The Township Water Fund is for capital improvements and repair and replacement to the Township owned water system assets.
The Township Water Fund generates its revenues from the $0.50 per 1000 gallon charge to all Calumet Township water customers of the Michigan American Water Company. Approximately $0.24 of the current $0.50 per 1000 gallon charge will be used to pay the debt service related to the Drinking Water Bonds.
Questions or comments may be raised at the public hearing or before that date in writing to the Calumet Township Office, 25880 Red Jacket Road, Calumet, MI 49913 or by email to email@example.com.