Wyoming council publishes notice of intent for revenue bonds to fund transmission-main surge suppression and wastewater headworks

The Wyoming City Council voted unanimously Sept. 2 to publish a notice of intent to issue revenue bonds not to exceed $11,500,000 for a surge suppression system tied to the third transmission main and not to exceed $9,000,000 for upgrades and expansion of the wastewater treatment plant headworks.

City staff said the surge suppression system is required before the third transmission main goes into operation. Ottawa County is expected to separately bond for its approximately 43% share of that surge suppression cost; the city would bond the remaining 57%.

City staff told the council the wastewater headworks project remains in design. At the 60% design stage, the staff cost assumption sits near $6,000,000; the $9,000,000 notice of intent includes funding for engineering, construction, bond reserves and issuance costs to cover potential adjustments as the design is finalized.

City staff described the 11.5 million figure as a conservative upper limit. “This notice of intent doesn't obligate us to borrow the full 11,500,000.0. We're only gonna borrow as much as we need and no more,” staff said, adding the higher not-to-exceed number provides a buffer so the council would not need to return for a second notice of intent if estimates shift.

The council approved the resolutions on a roll-call vote. Council members present voted in favor of publishing the notices of intent; no opposing votes were recorded.

Next steps identified by staff include completing the final cost estimates, finalizing design and then returning to the council with a proposed bond issuance when financing amounts are firmed up.