Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
City schedules public hearing on up to $72.5 million wastewater revenue bonds
Summary
The board reviewed a proposed ordinance (O-25-07) to authorize up to $72.5 million in wastewater revenue bonds and a possible $7.25 million debt service reserve; a public hearing is set for March 4 at 6 p.m.
City staff presented an ordinance authorizing the issuance of wastewater revenue bonds in a maximum aggregate principal amount of $72,500,000 to finance improvements to the city’s wastewater system and scheduled a public hearing for the March 4 meeting.
Finance Director Karen Scott said the bonds may be issued in one or more series to finance betterments and improvements to the wastewater system, including wastewater treatment plant upgrades, gravity mains, force mains and pump stations. The city may secure a debt service reserve fund in the maximum principal amount of $7,250,000 via a surety bond or insurance policy. A public hearing on the issuance will be held Tuesday, March 4 at 6 p.m. at City Hall prior to board action on Ordinance O-25-07.
No board action on the ordinance occurred at the agenda meeting; the hearing and any subsequent vote will take place on March 4.
