DUNKIRK — City officials announced Monday that an interest rate of 1.78 percent was secured on the first $850,000 in funding for the water meter project.

Mayor Richard Frey praised City Treasurer Mark Woods for his efforts to get a low interest rate on the competitive bidding for the city’s borrowing of $6.3 million. Council members unanimously approved the bond resolution at their Monday meeting.

City residents are invited to attend presentations about the water meter replacement program at 10 a. m., 2 and 7 p. m. Nov. 18 in City Hall.

The information will include the process of replacement, as well as the benefits of the project. Water line replacements and other updates will be reviewed at the presentations.

Engineers for the project will be present at the sessions to answer questions about issues.

In other matters, Council members authorized a letter of support for the Clarion Hotel and Conference Center on Lake Shore Drive. The owners are seeking funding for a water park at their site.

According to Cory Ahlstrom, director of planning and development, the additional funding would be a bonus for the project and would bring the total development cost to about $1.6 million.