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Boone council moves forward with $1.7 million loan for wastewater headworks improvements
Summary
Following a public hearing, the Boone City Council approved resolutions to authorize a not‑to‑exceed $1.7 million general obligation capital loan and to order construction of wastewater treatment plant headworks improvements; councilors said the city is not raising its levy to pay for the debt.
The Boone City Council held a public hearing on a proposed authorization of a loan and disbursement agreement and then approved a set of resolutions to advance a not-to-exceed $1,700,000 general obligation capital loan for wastewater treatment plant improvements.
During the hearing a resident, Aaron Drake, asked what the loan would pay for. City staff directed him to the meeting packet and described the scope: improvements and equipment for the municipal sewer system including work at the headworks building, sludge facility, vortex grit chamber modifications, pumps, piping and associated equipment.
Another speaker, Joe Grove, asked how long the project would take; a city representative (Perry, city staff) said construction would likely take about a year and a half and that work would likely start in summer. When residents asked about levy impacts, the city administrator said the city would not raise its 2026 tax levy to cover the loan and that the loan would be issued without an increase in the city’s levy rate.
Perry also said the city expects to pursue State Revolving Fund (SRF) financing processes that should lower issuance costs; staff cited a recent SRF rate of about 2.74% on a prior project.
After hearing no further public comment, the council approved three related resolutions: Resolution No. 3350 to institute proceedings and take additional action for the loan and disbursement agreement, Resolution No. 3351 authorizing issuance of general obligation capital loan notes, and Resolution No. 3352 ordering the construction of the wastewater treatment plant improvement (Headworks 2025 project) with a beginning date of April 7, 2025. The council’s roll calls recorded unanimous approval.
Councilmembers and staff emphasized the project is intended to address aging infrastructure and that financing steps taken now proceed to eventual bidding and construction if funding is secured.
No detailed debt-service schedule was presented at the hearing; staff said specific issuance costs and interest will be determined through subsequent financing processes and broker/underwriter arrangements.
