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Charleston committee approves ordinance to allow up to $30 million in sewer revenue bonds
Summary
The finance committee approved Bill 8056, authorizing up to $30 million in sewerage system revenue bonds to fund improvements tied to the Magazine Branch upgrade; committee members were told the bonds are payable from sanitary board revenues and will not affect the city's general bonding authority.
The finance committee approved an ordinance authorizing up to $30,000,000 in sewerage system revenue bonds for design, acquisition and construction tied to the sanitary board's Magazine Branch upgrade.
The measure matters because it provides financing authority for a multi-step sanitary-board project the committee has previously discussed and is structured to be repaid from the sanitary board's fees…
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