Sun Prairie Utilities will be able to purchase land for its new SPU facilities on Linnerud Drive and complete water and electrical line replacements in 2021, thanks to action taken Dec. 15 by the Sun Prairie City Council.
The council not only approved a resolution providing for the sale of approximately $6.77 million in Water and Light Utility Revenue Bonds, but also a $500,000 loan from Sun Prairie-based WPPI Energy to undertake water and electrical replacement projects in 2021.
The no interest loan from WPPI Energy was approved Nov. 23. Although the loan is interest-free, a one-time origination fee of $5,000, or 1% of the loan amount, will be repaid by SPU as part of the agreement. A schedule of payments shows SPU will pay back the loan in monthly installments of $4,166.67.