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Denison council approves publication of notice to issue certificates of obligation for water system improvements
Summary
The Denison City Council voted unanimously to publish notice of intent to issue up to $5,085,000 in combination tax and revenue certificates of obligation to fund projects aimed at reducing water loss, with related grant funding from the Texas Water Development Board.
The Denison City Council on Oct. 20 unanimously approved a resolution directing publication of a notice of intent to issue combination tax and revenue certificates of obligation to finance water system improvements.
City staff member Miss Acevedo told the council the principal amount would not exceed $5,085,000 and that the issuance is tied to funding through the Texas Water Development Board. "The purpose of this grant is to mitigate water loss," Acevedo said, and she said the city qualifies because of a high level of water loss for a community its size, attributed primarily to aging infrastructure.
The staff presentation said the city previously approved a similar issuance earlier in the year that provided $5,100,000 in grant funding.…
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