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Council heard multiple budget amendments and appropriations proposals including arbitrage payment, stormwater culvert, AMR meters and sewer bonds
Summary
Finance staff presented multiple supplemental appropriation ordinances: $300,000 for arbitrage obligations, $154,189 for a Vinsal Creek detention culvert, $17.1 million for AMR water meters, $19.62 million for sewer projects and $200,000 for golf course equipment and transition costs.
The council heard a sequence of budget ordinance presentations from finance staff covering multiple supplemental appropriations.
Jared Morrison, finance staff, described an ordinance to appropriate $300,000 from the general fund to cover arbitrage obligations tied to interest earned on general obligation bond proceeds: “Every year… after 3 years, we're obligated to turn over any interest we earn on those back to the…
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