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Council authorizes notice of sale for $7.93 million in certificates of obligation for water, wastewater projects
Summary
The council approved a resolution to publish a notice of sale to issue $7,930,000 in certificates of obligation for water and wastewater projects; staff said drainage projects originally planned for debt funding will be covered from strategic project fund savings, allowing a reduced issuance.
The City of Fair Oaks Ranch council voted July 17 to authorize publication of a notice of sale to issue $7,930,000 in certificates of obligation to fund water and wastewater capital projects. The action formally opens the competitive bidding process for the debt issuance.
Summer Fleming, the city's director of finance, told council the issuance is the second phase of a multi-year debt plan for utility projects. The city previously issued $3.7 million in certificates of…
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