Board approves proceeding with S&P credit rating to support wastewater/well bond issuance

The Warrenton Board of Aldermen voted unanimously on Sept. 16 to authorize staff to proceed with an S&P credit-rating engagement tied to voter-approved bonds for wastewater and a new well.

City Administrator Brandy Walters told the board voters had approved $13,000,000 in bonds to fund expansion of the wastewater treatment plant and a southern well. She said the city issued $4.85 million in 2023 and seeks the remainder, about $8,150,000, this year. Walters said staff has worked with WM Financial and Joy Howard to submit documents to S&P and that the engagement fee is $25,200.

Mayor (unnamed) called for a motion to proceed with the engagement letter; the motion was moved and seconded by board members and the clerk conducted a roll call. The roll call recorded a unanimous vote and the meeting record states the motion passed 6 to 0.

The board discussed, in general terms, an unrelated proposed intergovernmental agreement with MoDOT to reimburse police overtime for work-zone coverage on Highway 70; Walters said staff would return with the proposed agreement at the next meeting if the board wished to proceed.

Outcome: motion approved 6–0 to proceed with an S&P rating engagement; no additional appropriation was recorded at the meeting beyond the stated engagement fee.

Next steps: staff will advance the S&P engagement and return with any contract or related documentation at a future meeting.