30-year bond to replace 20-year sewer loan

September 22, 2015

City Council approved replacing a 20-year loan with a 30-year bond, which will extend the time the city’s water customers have to pay for sewer repairs and consequently lower their annual costs. The bond is for $275 million and will cover much of the cost associated with the Ohio Canal Interceptor Tunnel project – a mile-plus long tunnel that is being built to hold combined sewer overflows until the wastewater can be treated. Council also gave its approval to the police department to apply for Ohio grants that will fund speed limit enforcement on state roads. 

Sept 21, 2015 from Akron City Council on Vimeo.