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Finance adviser urges bigger reserves, recommends certificates of obligation to fund infrastructure
Summary
RBC Capital Markets advised Groves to increase general-fund reserves toward 180 days, reviewed outstanding debt and recommended considering certificates of obligation to fund a bundle of utility and capital projects, with a potential March–April financing timeline.
RBC Capital Markets presented a preliminary plan of finance to the Groves City Council on Nov. 24, 2025, recommending the city consider certificates of obligation (COs) to fund a package of near‑term capital projects including water‑meter replacement, wastewater improvements and sewer collection upgrades.
Dusty Trailer, managing director at RBC, said the city’s current ending general fund balance is roughly $4.2 million and recommended a long‑term target of about 180 days of operating reserves (approximately $6.5 million based on the presentation). He warned that the city is "underfunded" relative to that…
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