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Council approves procedures for up to $3 million reimbursement bonds to cover water projects, and authorizes consultant for water plant re‑roof
Summary
City staff said water system projects this summer — including raw water rehabilitation and a water treatment plant re‑roof estimated at about $500,000 — will be eligible for reimbursement under a Northland Securities resolution (maximum principal $3,000,000). The council approved the resolution and a $22,000 consultant authorization for re‑roof specs and construction supervision.
A staff member told the council the city needs to establish procedures for tax‑exempt reimbursement bonds under the Internal Revenue Code to reimburse expenditures for several water system projects planned this summer, including raw water rehabilitation and a planned re‑roof of the water treatment plant.
Staff said the total maximum principal…
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