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Council adopts amended sewage works revenue bond ordinance to expand surety options
Summary
The city council adopted an amended sewage works revenue bond ordinance (25-15) that allows the municipality to accept two highest-rating surety categories instead of one, a change officials said could increase financing options and potential cost savings.
The City Council on Sept. 2 adopted an amended sewage works revenue bond ordinance, Ordinance 25-15, after a brief presentation and a voice vote. City Attorney Lynn Gray told the council the amendment changes language on page 20 to allow the city to accept “the two highest rating categories of choosing a surety as opposed to…
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