Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Kingman council approves up to $11.11 million in excise-tax obligations to fund Santa Rosa transmission main
Summary
On April 1, the Kingman City Council authorized the city to issue excise tax revenue obligations to finance the Santa Rosa transmission main, reimburse an internal loan for the Rancho Santa Fe interchange and cover issuance costs; the city reported a Standard & Poor's 'AA' rating and said water ratepayers will fund debt service.
The Kingman City Council on April 1 approved Resolution No. 5,550 authorizing the issuance of excise tax revenue obligations of up to $11,110,000 to fund the Santa Rosa transmission main and reimburse a capital projects advance for the Rancho Santa Fe Parkway traffic interchange.
Council and staff said the Santa Rosa transmission main will move water from the west side of Route 66 to the east side. The council was told the construction contract was awarded in December 2024 at a guaranteed maximum price of $7,100,000 and that $3,200,000 was borrowed from the capital projects fund earlier; the issuance…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
