Council approves wastewater bond refunding and capital improvements plan

The West Lafayette City Council approved two related ordinances addressing sewage works financing and capital improvements. Ordinance 12 20 25, authorizing the current refunding of Sewage Works Revenue Bonds (Series 2016), passed on its first of two readings by a roll-call vote of 9-0. Ordinance 13 20 25, authorizing new revenue bonds and related actions for construction of additions and improvements to the city—s sewage works (not-to-exceed $10,000,000), also passed on its first of two readings by roll call, 9-0.

Dave Henderson, the city—s utilities director, described bond refunding as analogous to refinancing a mortgage: if market rates drop sufficiently by an October call date, refunding the 2016 bonds could reduce debt service and save money. Henderson said the refunding bond would be callable in October and that staff will monitor interest-rate conditions.

On the capital-improvement ordinance, Henderson said the $10 million maximum would fund several projects: closure of a biosolids lagoon and revised biosolids dewatering, improvements and expansion at the North Side Regional lift station, and a new force main to serve industrial and commercial customers within the Research Park and KCB allocation area. He said lagoon closure responds to past odor concerns at the treatment plant and that property constraints limit expansion, so dewatering and solids-handling changes are priorities.

Both ordinances were introduced by the mayor and discussed briefly; no public comments were recorded on either item at the meeting. The clerk recorded roll-call approvals for both ordinances: each passed with nine ayes and no nays.