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Rio Grande City approves financing steps to fund water-meter replacement, authorizes reimbursements
Summary
The City approved publication of a notice of intent to issue certificates of obligation and a reimbursement resolution tied to Texas Water Development Board project 63011, moved to select bond counsel and a financial adviser, and cleared steps allowing replacement of water meters before final loan closing.
Rio Grande City commissioners voted July 14 to move forward on financing and procurement steps tied to a drinking-water project the city will seek from the Texas Water Development Board (TWDB). The commission approved publication of a notice of intent to issue certificates of obligation for TWDB project number 63011 and unanimously adopted a reimbursement resolution that allows the city to begin paying for meter replacement and other project expenses now and seek reimbursement once TWDB funding…
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