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Council hears update on wastewater plant rehab; staff weighing SRF loan and bond options
Summary
Environmental services staff reported the wastewater plant rehabilitation remains on schedule and discussed financing options, including an SRF loan previously authorized and potential municipal bond underwriters.
Environmental services staff updated the Columbiana City Council on the wastewater treatment plant rehabilitation and financing options during the July meeting.
Dale, representing environmental services, told the council the rehabilitation work is progressing and that the contractor expects to pour the remaining concrete midweek; larger equipment such as a bar screen is scheduled for delivery in August. Dale said the city previously authorized a State Revolving Fund (SRF) loan for approximately $4.5 million, and that the city still has “a little over 5.1 left” — language used in the meeting that staff indicated refers to remaining financing needs or budgetary gap. Dale said staff are exploring additional options, including proposals from two firms that can underwrite municipal bonds and one bank loan option.
One underwriter requested to present to council; Dale said staff will try to schedule a work session the fourth week of the month so council members can hear proposals and ask questions before committing to a financing path.
Why this matters: The wastewater plant rehabilitation is a capital infrastructure project with multi‑million‑dollar financing implications. Council members said they want to evaluate bond proposals alongside SRF loan availability before finalizing financing.
What the council said: Council members and staff discussed timing for equipment delivery and sequencing of construction. The mayor and staff noted that staff will arrange a work session for detailed presentations by the underwriters.
Next steps: Environmental services staff will attempt to schedule a work session in late July for presentations by bond underwriters and to provide council members with additional information to compare financing options.
