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Commission gives initial approval to proceed with CRNF transformer upgrade financing
Summary
The commission approved a resolution authorizing improvements and initial bond authority for CRNF transformer upgrades; city staff said CRNF will reimburse most debt-servicing costs and further actions will come in subsequent agendas.
The Coffeyville City Commission on a motion approved a resolution authorizing initial steps toward replacing and upsizing transformers at the CRNF site, a project staff described as a multi-step process that could total approximately $23 million.
Why it matters: The work is intended to create redundancy and capacity for the steam plant/refinery area, and the city’s action authorizes issuing bonding authority; CRNF representatives, according to staff, will reimburse the majority of the debt-servicing costs.
Commission discussion and details: Chris Weiner, executive director of electric, told commissioners the project will replace transformers at the B sub-project near the steam plant by the refinery and upgrade to larger units “to allow for redundancy and expansion opportunities.” Weiner said the $23 million figure provides flexibility for cost increases but that the city expects CRNF to reimburse most of the debt service; the ordinance/resolution gives the city authority to begin bond steps, and staff said further actions will appear on future agendas.
Commission action: Motion to approve the resolution was made by Mayor Maples and seconded by Vice Mayor Van Oster; recorded votes in support were read aloud and the motion carried.
Next steps: Staff indicated this is step one in a four-part process; additional approvals and bond issuance steps will be brought back to the commission for further action.
Provenance: Presentation and discussion of the project appear in the public record during the resolution presentation and vote.
