Paying for Washburn's Infrastructure

In Washburn, the city pays contractors for infrastructure projects as they happen. Then the city finances and sells a Special Assessment Revenue Bond. A bond is like a loan— it has an interest rate, a term and a principal amount, and it must be repaid in full. The bond is repaid with the special assessment payments that property owners make each year.

The City of Washburn and City Engeering firm, Ae2S, apply for and takes advantage of as many State and Federal Programs as possible to help defray costs of necessary improvements to residents.  

However, in many cases, the cost of capital improvements and infrastructure upgrades are charged either partially or totally to the property owners who receive the benefit through the "special assessment" process.  

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