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Council briefed on CIP priorities funded with 2022 and 2025 CO proceeds
Summary
Staff proposed funding multiple capital projects in FY2526 using leftover proceeds from the city's 2022 and recently issued 2025 certificates of obligation, including completion of an elevated storage tank, pool and library repairs and infrastructure work tied to development on the city’s east and west sides.
City staff told the Nassau City Council they intend to use remaining proceeds from previously issued certificates of obligation to fund a slate of capital improvement projects in FY2526.
"Your 2022 certificates of obligation had not been fully utilized," Mr. Hemminger said, and staff identified roughly $1.4 million remaining from the 2022 COs to complete the elevated storage tank project. Hemminger said that the 2025 COs, issued a few months earlier, also include funds for projects already identified in the offering statement and…
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