Council approves two water utility revenue bond resolutions totaling $1.39 million

The City Council on Sept. 2 approved two companion resolutions authorizing the issuance and sale of water system revenue bonds of up to $352,978 and $1,038,658, for a combined total of $1,391,636, to fund water and sanitary utility improvements. Staff said the borrowings would be issued under the Wisconsin Safe Drinking Water Loan Program and would rely entirely on water utility revenue, not the city’s general-obligation taxing authority.