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Council hears bond counsel and financial adviser on wastewater funding; takes no action on voter measure
Summary
Bond counsel and a financial adviser outlined options for funding a large wastewater treatment plant project — election or judicial confirmation — and explained tradeoffs including cost, timing and voter approval. The council did not adopt an ordinance or direct an election at the June 4 meeting.
City bond counsel and the city’s financial advisor presented Middleton City Council with the legal and financial options for obtaining voter approval or court confirmation to borrow money for major wastewater treatment plant improvements at the council meeting on June 4.
Stephanie Bonnie, retained bond counsel, summarized two constitutional paths available in Idaho: submitting a revenue bond question to voters (election) or pursuing a judicial confirmation proceeding. Bonnie said an election requires a not-to-exceed amount and a simple majority (50% plus 1). Judicial confirmation is a court process that asks a judge to confirm the city’s finding that borrowing is a "necessary" expense; that approach can allow borrowing beyond an initial estimate…
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