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Newport News council unanimously approves $92.42M in G.O. bonds, $30M water bonds and routine measures
Summary
The Newport News City Council on July 22 approved an ordinance to issue $92,420,000 in general obligation bonds and a $30,000,000 water revenue bond and adopted several other ordinances and resolutions, including a budget readoption that raises school funding about 2.9%.
The Newport News City Council on July 22 voted unanimously to adopt an ordinance authorizing the city to issue $92,420,000 in general obligation bonds to finance various public-improvement projects and approved a separate resolution to issue $30,000,000 in water revenue bonds for water system upgrades.
City Manager (first referenced at the lectern) told the council the budget readoption for fiscal year 2025-26 is necessary to operate the city over the coming year and said the update "allows the school system to maintain a balanced budget" with overall school funding increasing by approximately 2.9% over fiscal year 2024-25. He recommended approval of the budget ordinance, which the council adopted unanimously.
Council also approved an ordinance…
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