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Council authorizes general obligation bonds to pay for City Hall boiler, fire station alerting and law enforcement elevator repair
Summary
The council approved an ordinance authorizing issuance of general obligation bonds to finance a City Hall boiler replacement, accelerated fire station alerting work and repairs to the law enforcement center elevator. Staff estimated the combined project and bonding costs at about $710,000.
The Hutchinson City Council approved an ordinance authorizing the issuance of general obligation bonds to finance three facility projects: replacement of the City Hall boiler, fire station alerting equipment and repair of the law enforcement center elevator.
Angela Richard, the city finance director, said the projects will be bonded because the work must be completed before a planned bond issuance. "The total project cost along with bonding cost add up to 710,000," Richard told council, and staff intends to include these projects in a subsequent bond issuance combined with larger projects to reduce borrowing costs.
Council approved the ordinance and authorized the mayor to sign. The bond authorization allows staff and the bond counsel to proceed with structuring the issuance and returning to council as required by state law for sale and closing details.
