Committee backs resolution to set parameters for refunding Huntington sewer and stormwater bonds

On March 5 the Administration and Finance Committee voted to forward resolution 2026-R-52 to the full Huntington City Council with a favorable recommendation. The resolution sets parameters — dates, amounts, maturities, interest rates and redemption provisions — to refund revenue bonds connected to the planned combination of Huntington’s sanitary and stormwater utilities.

A presenter said the Huntington Water Quality Board previously authorized merging the two utilities the board oversees and described the resolution as one of the final steps needed to refund current bonds and rebond the combined obligations. "This is just simply us being able to put all the financing together of the two utilities," the presenter said. The presenter added that additional ordinances related to the merger would appear before the committee and council in coming weeks.

Committee members asked whether the refunding would involve any rate increases. The presenter replied that the measure does not involve a rate increase; rather, it consolidates financing for the two utilities and allows the city to restructure existing debt. When asked whether the process is to refund, combine and reissue bonds, the presenter confirmed that is the intended sequence.

After discussion a committee member moved to forward the resolution to the full council with a favorable recommendation; committee members voiced aye and the chair announced the resolution will be forwarded with a favorable recommendation. The chair identified Stacy as sponsor; another member was noted as second. The resolution will next be considered by the full council.