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Council approves $10 million sewer revenue bond after wastewater director details strong debt-service metrics
Summary
The council adopted an ordinance authorizing the issuance and sale of $10,000,000 in sewer revenue bonds (Series 2025) to fund sewer facility extensions and improvements. North Little Rock Wastewater director Michael Clayton reported a debt service coverage ratio of 2.88 and compared per-customer indebtedness favorably with Little Rock; council
The City Council adopted an ordinance authorizing issuance and sale of $10,000,000 in sewer revenue bonds (Series 2025) to fund extensions, betterments and improvements to city sewer facilities.
City staff opened a public hearing on the first reading of O2585 and called for speakers; none appeared. Michael Clayton, executive director for North Little Rock Wastewater, briefed the council on the…
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