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September 28, 2015

$40M bonds fund new hydro projects

By JOURNAL STAFF

EVERETT — Snohomish County PUD issued about $40 million of tax-exempt bonds to design and construct new hydroelectric facilities, and credited the decision by the Federal Reserve not to raise interest rates for getting better pricing on the transaction.

The bonds will help fund two hydroelectric projects on Calligan and Hancock creeks, above Snoqualmie Falls near North Bend. The utility broke ground at one of the sites this month. Construction will take two years. They should start operating in 2017-2018 and provide power for 10,000 homes at peak output.


 
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