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Council approves $173 million reimbursement resolution to advance capital projects
Summary
Council approved a reimbursement resolution allowing the city to begin capital projects now and reimburse costs from future bond proceeds, with staff citing a $173 million maximum principal amount and listing road bonds, water projects, vehicle replacements and radio upgrades among planned uses.
The Lubbock City Council approved a reimbursement resolution Oct. 28 that lets the city begin capital work now and reimburse expenditures from future bond issuance when market timing is optimal.
City staff said the resolution sets a maximum principal amount of $173 million to cover projects listed in the adopted budget and exhibit…
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