LITTLE ROCK, Ark. — On Tuesday, the Little Rock Board of Directors approved a multi-million dollar upgrade to the city's wastewater system.
The money will come from a $59 million bond that will be paid back over time with a quarter-percent interest rate. Meanwhile, the Little Rock Water Reclamation Authority will use that money to upgrade a system it said never gets a break.
"It's just a constant battle to stay on top of our assets to keep them in working order," Little Rock Water Reclamation Authority CFO Michael Rhoda said.
Little Rock's first wastewater facility began in the 1960s. Now decades old, the Little Rock Reclamation Authority is working to keep the infrastructure in working order.
"It's really important for our utility and our residents because we can borrow a significant amount of money to make necessary improvements to our large, complicated systems yet at a low cost of money," Rhoda said.
The money will be used for projects, such as upgrading the systems at Fourche Creek and the field pumps at the Adams station.
Rhonda said customers will not see any increases in their bills because of the improvements.
"Not as a result of this bond offering, no," Rhoda said.
The bond is expected to be paid off 33 years from now.