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Keene Council keeps $3.16 million TWDB water grant, rejects high‑interest notes and borrows $355,000 from reserves
Summary
At a June 10 special meeting the Keene City Council voted to decline issuing $385,000 in certificates of obligation tied to a Texas Water Development Board grant and instead to fund the city’s 10% share from surplus cash split 60% water/sewer and 40% general fund.
The Keene City Council on Tuesday accepted a $3,160,000 grant from the Texas Water Development Board for water system improvements and voted to decline issuing $385,000 in combination tax and surplus revenue certificates of obligation to fund the city’s required match.
The council instead approved borrowing $355,000 in surplus cash to satisfy the local share, with direction that the amount be covered 60% from the water/sewer…
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