The City of Vero Beach’s water-sewer customers are now officially on the hook for $55 million borrowed to pay for roughly one-third of the wastewater treatment plant now under construction at the city’s airport complex.
Municipal bonds to refinance the entire $150-plus million project will come later, Utilities Director Rob Bolton said, likely in 2027.
The city used state environmental and infrastructure grants to design and begin laying the pipelines and foundation for the plant, with the $55 million bridge loan approved by the Vero Beach City Council on Dec. 9 providing cash needed to continue the work until all the documentation needed to issue bonds can be completed…