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Ironton council advances water-meter financing work; bond counsel to report at next meeting
Summary
At its April 24 meeting, the Ironton City Council discussed financing options for a planned water-meter replacement project, reviewed preliminary interest-rate comparisons, and directed staff to prepare legislation and secure bond-counsel verification before finalizing a bond sale.
The Ironton City Council on April 24 discussed financing for a planned water-meter replacement project and directed staff to prepare legislation and bring bond counsel and the underwriter's work to the next council meeting for review.
Council members and staff reviewed two preliminary financing estimates: a proposal through RWDA showing a financing rate of 4.29 percent and a Baird “all‑in” rate reported at about 4.27 percent. Council members discussed whether issuing bonds for the project would affect the city's overall borrowing capacity; Mike…
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