Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Lancaster City council approves amended $41.095 million general-obligation bond; projects and debt impacts outlined
Summary
Council amended and advanced an ordinance to issue $41,095,000 in general-obligation bonds to fund water, sewer and general-fund capital projects. Officials said Moody's affirmed the city's A3 rating with a positive outlook; staff outlined project components, timing and projected debt-service impacts.
Lancaster City Council on March 25 advanced an amended ordinance to issue $41,095,000 in general-obligation bonds to finance a package of capital work on the city's water, sewer and general-fund projects.
City staff told council the bond auction produced a low interest bid from Robert W. Baird at about 4.742 percent; Wells Fargo submitted a competing bid. Director Tina Campbell and Daryl (bond advisor) outlined the projects funded by the issue and projected debt-service impacts across the general, water and sewer funds.
The ordinance as summarized at the meeting provides $28,100,000 (approx.) for general-fund capital…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
