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Greeley board backs resolutions supporting $39.5M water and $44M sewer revenue bond issuances
Summary
The Water and Sewer Board voted to approve resolutions recommending that city council authorize two revenue bond issuances: $39.5 million for water projects and $44 million for sewer upgrades. Board members were told neither issuance includes West Greeley Catalyst project costs.
The Greeley Water and Sewer Board voted May 21 to approve resolutions recommending that the City Council authorize revenue bond issuances: $39.5 million for water projects and $44 million for sewer projects.
Virgil (staff member) presented the planned uses for the water bond: about $18 million for future water acquisitions, $4.5 million for State Land Board well drilling, $9 million for distribution pipeline replacements over two years, $6 million for work on the Milton Seaman outlet gates and a $1 million allocation for transmission line replacements. Virgil told the board the ordinance would cap interest at no more than 5% for a 20‑year bond and said current market indications were roughly 4.4–4.5%.
For the sewer bond, Virgil said the $44 million would fund a large portion (approximately $34 million) of the wastewater treatment plant primary treatment phase 2 project, $6 million for North Greeley Sewer phase 2 and $4 million for a generator replacement at the wastewater plant.
Board discussion emphasized that none of the water bond proceeds fund West Greeley Catalyst elements. Chairman Evans noted the previous iteration had included West Greeley costs and that the present $39.5 million package omits those items; Virgil confirmed projects were shifted or postponed to 2027, reducing the issuance size. The two motions to approve the resolutions were moved and seconded; the board approved both items by voice vote (ayes) and the motions carried.
Why this matters: the bond proceeds are intended to fund capital improvements in the city’s approved CIP and to address aging infrastructure and regulatory needs at the wastewater plant. Board members asked for a follow‑up list of projects postponed to 2027 that led to the reduced water bond size.
