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Arcadia council adopts reimbursement resolutions to preserve financing options for water and wastewater projects
Summary
Council approved two resolutions declaring the city's intent to reimburse certain water and wastewater capital expenses from future tax‑exempt indebtedness and heard project updates showing millions in ongoing and planned work, including a nearly complete wastewater Phase 1 and a $12 million steel water‑line replacement.
Arcadia’s City Council on Nov. 5 adopted two resolutions declaring the city’s intent to reimburse certain water and wastewater capital expenditures from the proceeds of future tax‑exempt debt, preserving the option to consolidate projects and issue tax‑exempt bonds when market or grant conditions are favorable.
City staff said the declarations — Resolution 256‑16 for water projects and Resolution 256‑17 for wastewater projects — do not obligate the city to issue debt immediately but allow the city to reimburse itself from future financing for capital costs incurred within IRS time limits. Assistant City Manager and Finance Director Tabitha Miller told the council the change provides flexibility to time borrowing to the market and to incorporate grant awards that could reduce rate impacts.
Nut graf: The council adopted the reimbursements as part of a broader update on major capital needs. City…
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