Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Hot Springs approves up to $72.5 million wastewater revenue bonds; emergency clause adopted
Summary
The City of Hot Springs Board of Directors on March 10 authorized the issuance of up to $72.5 million in wastewater revenue bonds to finance major wastewater system upgrades and adopted an emergency clause to make the ordinance effective immediately.
The City of Hot Springs Board of Directors on March 10 authorized the issuance of up to $72.5 million in wastewater revenue bonds to finance improvements to the city’s wastewater treatment plant, gravity mains, force mains and pump stations, and approved an emergency clause to make the ordinance effective immediately.
At a public hearing that drew no speakers, Karen Scott, the city’s finance director, told the board the bonds could be issued in one or more series in a maximum principal amount of $72,500,000 and that the city may provide a debt-service reserve up to $7,250,000 in the form of a surety bond or insurance policy. Scott said final principal and interest requirements will be available after sale closing; officials expect the transaction to close April 15.
The ordinance followed a presentation by Bob…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
