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Heath Council approves notice of intent on $40.5M Water Bridge Plan financing
Summary
Council approved a plan of finance and a resolution to publish a notice of intent to issue certificates of obligation to fund the Water Bridge Plan, a $40.5 million package that includes an elevated storage tank, ground storage tanks, reimbursements for well No. 1 and wells 2–4. Staff and advisors will finalize call features and pricing ahead of a targeted March sale.
The Heath City Council voted unanimously Feb. 4 to publish a notice of intent to issue Texas certificates of obligation to fund the city’s Water Bridge Plan, approving a plan of finance and directing staff to proceed with public notice and next‑step preparations.
Hilltop Securities Managing Director Jim Sabonis told the council the Water Bridge Plan requires about $40.5 million for projects including the design and construction of an elevated storage tank (estimated at $14.5 million for the Heath Golf & Yacht Club site), a ground storage tank…
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