Council approves $2M self-supporting bond for water‑meter overhaul; administration renames reserve fund to cover appropriations

Council voted to authorize self‑supporting utility revenue bonds not to exceed $2,000,000 to support the H2 water‑meter overhaul project and approved related amendments to the city’s accounting lines to certify supplemental appropriations. The ordinance and associated amendments passed in the legislative session; the recorded vote on the ordinance and the amendment was 4‑to‑1 in favor, with one councilmember voting no.

Why it matters: The city presented a plan to replace aging mechanical meters—staff said industrial standards put meter life at roughly 10–15 years—and to accelerate replacement because many meters in the system exceed that lifespan. Presenters tied the meter replacement to reduced unbilled water (presented as an area of significant water loss) and said the program could pay for itself over time through billing recovery. Council approved self‑supporting utility revenue bonds (not general‑obligation debt) so the…