Yet another giant scam of our hard- earned money. Who has the seven Trillion dollars Obama stole from us — supposedly for Infrastructure “shovel ready jobs” we never got???????????? Follow the money ( gawd, if we only had a free press !) and throw the thieves in prison !
Here in Washington State they have what is called the “Public Works Trust Fund”, and both the Departments of Ecology and Heath each have a state revolving fund loan program for sewer and water projects.
The 2 revolving programs work to provide low interest loans (0 to 3.5% last I checked) (as opposed to bonds) to cities and counties and they work great but the drawback is they are underfunded so it can take several years to get funding for a particular project. They reason they work great is that water and sewer agencies are solvent and have good reserves so the chances of default are very, very slim.
The Public Works Trust Fund worked like the other 2 programs but also funded street/road projects. But a couple of years ago the state legislature decided the state general fund needed the money and went in and took it. So now there is a program in name only because they do not have any funds to distribute. And the projects that were paying back into the program, those proceeds go into the state general fund as well.