Karegnondi Water Authority Project Receives Bond Buyer Award
The bond sale from earlier this year for the Kaergnondi Water Authority project has resulted in an award. According to a news release from the Genesee County Drain Commissioner's Office, the project has been awarded the Midwest Region "Deal of the Year" from The Bond Buyer.
Of the award, Genesee County Drain Commissioner Jeff Wright said "this recognition is an important thing for not only this project, but our area as a whole." He added "the award validates the sound financial footing on which KWA is founded, and reiterates just how favorable an interest rate we were able to obtain for our customers." The $220 million bond sale this spring garnered a 4.7% interest rate, helping to keep costs of the project down and save customers money over the life of the bond repayment.
Wright noted Keith Francis, Genesee County Controller; Karl Kramer, Genesee County Water and Waste Services Finance Director and Jerry Ambrose, Flint Finance Director as all being instrumental to the success of the project.