{City of Margate}
Margate has begun the process of financing significant improvements to the city’s water and wastewater systems.
During the November 25 meeting, the commission approved a resolution setting forth the details of its Water and Wastewater Improvement Revenue Bonds, Series 2025, with an aggregate principal amount not to exceed $60,000,000. This provides for the security of the bonds and authorizes the negotiated sale of the bonds.
This is the first portion of the bond ordinance enacted on February 19, 2025, authorizing the issuance of not-to-exceed $120,000,000 water and wastewater improvement revenue bonds. Margate residents voted to approve the issuance of the bonds on November 5, 2024.
The money raised from the bonds will fund improvements to the water and wastewater systems. Commissioner Arlene Schwartz said this is the beginning of the wastewater project.
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