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City staff outlines priority list for streets, utilities; $9 million borrowing proposed without tax-rate increase
Summary
Staff presented a prioritized list of street and utility projects tied to a proposed $9 million certificate-of-obligation borrowing (approximately $3M general fund/street, $6M utility) that officials said can be issued without increasing the current tax rate, with some larger projects remaining unfunded.
Hewitt — City staff told the City Council on Aug. 4 that a roughly $9 million borrowing plan could fund five priority street projects and five priority utility projects without raising the city’s current tax rate, but some large items — notably a lift station and force main project — would exceed the $6 million utility portion and would require additional reserves or future borrowing.
City Manager Thomas and public-works staff presented a ranked list of capital-improvement priorities developed by staff members and said the $9 million figure is structured as $3 million for general-fund/street projects and $6 million for utility projects. “That amount of money ... is gonna be a roughly about $9,000,000,” Thomas said during the workshop, and staff later…
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