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Council tables bond measure for sewer camera after questions on process, bond counsel
Summary
Councilors tabled an item on Oct. 28 proposing $370,000 in general-obligation sewer revenue bonds to finance a sewer-inspection camera, citing questions about underwriting, audit collateral and potential credit effects.
A proposal to authorize issuance of up to $370,000 in general-obligation sewer revenue bonds to finance a sewer-inspection camera generated extended discussion Oct. 28 and was tabled for further review.
Pam, the city administrator, explained staff had originally proposed leasing the equipment, but underwriters raised concerns tied to the city audit and unassigned negative balance;…
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