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Millport weighs capping sewer‑lateral costs as fund deficit draws bond‑rating scrutiny
Summary
Staff told the council the sewer‑lateral account has run a deficit for years and S&P questioned the shortfall during bond calls; council discussed options to cap city or resident costs, asked for a multi‑year breakdown of repair costs and counts, and asked staff to return with scenario analyses. No policy change was approved.
Millport staff reported June 11 that the city’s sewer‑lateral program has run a persistent deficit and that bond‑rating analysts have asked about the account in recent calls, prompting council discussion of modifications to the program.
Anthony, the staff presenter, told council the lateral account has been under stress and that staff and the finance director have been dipping into fund balance and borrowing from the general fund to complete projects. Finance staff said S&P asked about the sewer‑lateral…
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