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Council advances first reading to amend CCU bond authorizations after $10M budget gap
Summary
Councilors approved first reading of an amendment to Ordinance No. 49, 2024 to increase bonding authority for City Utilities after revised budgets revealed about a $10 million gap; the measure passed 8-1 and will return for further review.
City Utilities Executive Director Roger Kelso and Legal Counsel Stan Gamso told the Common Council on March 3 that revisions to project budgets revealed an approximately $10 million funding gap and proposed an amendment to Ordinance No. 49, 2024 to adjust the department's bonding authority.
Kelso said the department can proceed with its projects and "have absolutely no impact on any of the projected rates at this point." Councilors discussed the revised budget figures and the scope of the additional bonding authority. President Frank Miller moved to pass the first reading and advance the ordinance for further consideration.
The roll call vote was eight in favor and one opposed; Councilor Chris Bartels recorded the lone no vote. The amendment passed first reading and will return for subsequent steps before final adoption.
