Eldon voters will be asked to approve a 20-year, $15 million water revenue bond issue.
Funds from the bond issue will be used for several major projects within the city and can also be used to fund a portion of the lead service line inventory, which is required by DNR.
If approved by voters, the bond issue would not result in an immediate rate increase, but would save the city significant interest costs.
The city could borrow the money on the open market at a current rate of 4.25 percent, but with passage of the bond issue can obtain a subsidized rate of 1.65 percent.
In addition, voter approved bonds would help the city qualify for grant funding in the future.
