Specifications include, but are not limited to: Requested proceeds of up to $42,510,650 plus costs of issuance, capitalized interest through April 1, 2025, and funds necessary to provide for the debt service reserve fund referenced below. Purpose: To finance the construction of a water intake facility, a pump station, and a raw water pipeline, together with related expenses (the “Project”). Security: Water service and capacity revenue pledge, debt service reserve fund equal to maximum annual debt service (to be debt or equity funded at loan closing). Rate Covenant: Net revenues available for debt service shall be 100% of Borrower’s annual debt service payable from water revenues, including transfers from the Counties of Fluvanna and Louisa, Virginia...
