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Finance Committee directs advisory groups to develop utility and school bond packages after consultant modeling
Summary
Staff presented consultant modeling showing multi-year rate increases for water and wastewater and trade-offs between bond financing and using street-sales-tax funds. The committee asked the Utility Advisory Board to prepare $10 million and $20 million project packages and asked the joint assembly-school-facilities committee to prepare $5M, $10M
City staff and the managers office presented consultant modeling to the Finance Committee on Feb. 5 that projected significant year-over-year rate pressure for both wastewater and water unless capital funding is provided. Manager Koester described scenarios in which a $10 million wastewater bond could lower projected annual wastewater rate increases from roughly 12.75% to about 9.25% (modeling assumptions provided by the consultant), and she explored trade-offs that would come from using voter-approved transportation sales-tax dollars to finance utility underground repairs.
"It would be a good opportunity…
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