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Abilene council publishes notice to seek $49 million for Northeast water plant rehab; final approval set for March
Summary
The Abilene City Council voted to publish a notice of intent to issue up to $49 million in certificates of obligation to rehabilitate the Northeast Water Treatment Plant, with water rates—rather than property taxes—noted as the repayment source; final authorization is expected at a March council meeting.
The Abilene City Council on Tuesday approved publishing a notice of intent to issue certificates of obligation that would raise up to $49,000,000 to rehabilitate the Northeast Water Treatment Plant.
Marjorie Knight, director of finance, said the package will be split into two series: about $48.895 million issued at a rate the city estimates near 2.33% and a $105,000 series at 0% that can be used only for an asset management plan. Knight said publication of the notice…
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