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Levelland approves $5.2 million certificates of obligation to fund citywide water-meter replacement; approves $1.71 million reimbursement to contractor
Summary
The Levelland City Council on Feb. 3 adopted Ordinance No. 1089 authorizing Certificates of Obligation Series 2025 to finance a citywide replacement of water meters, and approved payment application No. 2 for Ameresco totaling $1,708,710.66 pending bond reimbursement.
Levelland City Council on Feb. 3 voted to issue limited-pledge revenue Certificates of Obligation Series 2025 to finance a citywide water-meter replacement project and approved a $1,708,710.66 payment request to Ameresco as reimbursement for work already completed.
City Manager Michael Stewart told the council the project has been under discussion since last October and described the certificates as supporting replacement of “all of the water meters in town.” He said staff and outside advisors compiled the finance documents and that Standard & Poor’s affirmed the city’s A+ credit rating during the process: “We stayed at an A plus, which speaks volumes,” Stewart said.
Why it matters: New, wireless meters are intended to improve the city’s ability to manage the water system and give customers more control of usage and billing. A sample meter study last year…
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