City of Toledo conducts big bond sale for five year water plan - News, Weather, Sports, Toledo, OH

City of Toledo conducts big bond sale for five year water plan

TOLEDO, OH (Toledo News Now) -

The City of Toledo has conducted its largest single bond sale, to raise money for a 5-year capital improvement plan at the Collins Park water treatment plant.

On Thursday, the city sold $197 million worth of bonds, to upgrade the plant which dates back to the early 1940's.

The plant's entire electrical system will be replaced, and two additional water treatment basins will be constructed to provide flexibility and additional capacity.

Recently approved water rate increases allowed for the bond sale to go forward. Deputy Mayor Steve Herwat says an estimated $264 million worth of improvements will be made at the water plant over the next 5 years. "We'll have a flurry of activity going between now and the next 5 years. We project each year nearly 700 construction workers are going to be employed out at Collins Park building these projects."

Because all of the work can't happen at once, in 2016 the city plans to issue another round of bonds, estimated at $100 million, to help pay for the project. 

Mobile users, click on the "Video" button in the app to watch this story. Download our app here.

Copyright 2013 Toledo News Now. All rights reserved.

  • Headlines from Lucas, Wood, Ottawa, Fulton & Monroe CountiesNewsMore>>

  • TPD investigate 'Robin Hood' robbery in downtown Toledo

    TPD investigate 'Robin Hood' robbery in downtown Toledo

    Friday, April 20 2018 4:24 PM EDT2018-04-20 20:24:40 GMT
    (Source: WTOL)(Source: WTOL)
    (Source: WTOL)(Source: WTOL)
    Toledo Police are investigating a downtown Toledo bank robbery. Police said a man robbed the Huntington bank earlier on Friday afternoon. Witnesses then said the man started walking down the street and was handing out money to people saying it was God's work. When police arrested the man, he was walking into the nearby Fifth Third Bank. Follow WTOL:   Download our app here.  Copyright 2018 WTOL. All rights reserved.More >>
    Toledo Police are investigating a downtown Toledo bank robbery. Police said a man robbed the Huntington bank earlier on Friday afternoon. Witnesses then said the man started walking down the street and was handing out money to people saying it was God's work. When police arrested the man, he was walking into the nearby Fifth Third Bank. Follow WTOL:   Download our app here.  Copyright 2018 WTOL. All rights reserved.More >>
  • 'Draw Defiance' giving residents a chance to show their artistic side

    'Draw Defiance' giving residents a chance to show their artistic side

    Friday, April 20 2018 4:21 PM EDT2018-04-20 20:21:17 GMT
    (Source: WTOL)(Source: WTOL)
    (Source: WTOL)(Source: WTOL)

    The new program is called Draw Defiance, and it will scatter 9 art scratch pads at prominent locations in the city. 

    More >>

    The new program is called Draw Defiance, and it will scatter 9 art scratch pads at prominent locations in the city. 

    More >>
  • Dave & Buster's reopens Friday after Lucas Co. Health Department confirms case of Hepatitis A

    Dave & Buster's reopens Friday after Lucas Co. Health Department confirms case of Hepatitis A

    Friday, April 20 2018 2:13 PM EDT2018-04-20 18:13:50 GMT
    (Source: WTOL)(Source: WTOL)

    A confirmed case of Hepatitis A has been diagnosed to a food handler who works at at Dave and Buster's near the Franklin Park Mall. The Toledo-Lucas County Health Department warns that anyone who consumed any food or drink from the restaurant between March 1 through March 29 has been exposed to the virus and should get tested.  Dave and Busters has set up a phone line for people with questions or concerns at  is 844-344-94-44. Follow WTOL:   Download our app he...

    More >>

    A confirmed case of Hepatitis A has been diagnosed to a food handler who works at at Dave and Buster's near the Franklin Park Mall. The Toledo-Lucas County Health Department warns that anyone who consumed any food or drink from the restaurant between March 1 through March 29 has been exposed to the virus and should get tested.  Dave and Busters has set up a phone line for people with questions or concerns at  is 844-344-94-44. Follow WTOL:   Download our app he...

    More >>
Powered by Frankly