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City adopts 2025 water and sewer revenue bonds to fund capital projects; councils vote 6-0
Summary
Greeley City Council adopted ordinances to issue water revenue bonds (up to $39.5 million) and first-lien sewer improvement revenue bonds (up to $44 million) to fund water and sewer capital projects. Council approved both measures by 6-0 votes after public hearings.
The Greeley City Council on Tuesday adopted two ordinances authorizing the sale of revenue bonds to fund water and sewer capital projects, voting unanimously on both measures after public hearings.
The council voted to approve issuance of up to $39,500,000 in water revenue bonds and up to $44,000,000 in first-lien sewer improvement revenue bonds, with both issuances structured to mature in 20 years, according to staff presentations.
Why it matters: The bonds will finance upgrades the city said are necessary to maintain and expand water and sewer infrastructure. Debt service is planned to be repaid from utility rates and fees rather than the general fund.
Water bonds:…
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