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Council approves issuance of up to $1.166 million in bond anticipation notes for water plant projects
Summary
Council passed an ordinance authorizing issuance and sale of up to $1,166,100 in bond anticipation notes to refinance or roll over existing water‑project debt and to fund listed water‑system improvements.
City Council approved an ordinance authorizing issuance and sale of notes in a maximum aggregate principal amount of $1,166,100 to cover costs tied to ongoing and planned water system projects, including screw pump equipment, a lift station on State Route 61 and improvements to the water treatment plant.
Finance staff and bond counsel outlined that the borrowing is part of the city’s annual routine to manage debt for multi‑year water and sewer projects.…
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