Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Utilities Bonding topic
No spam. Unsubscribe anytime.
Council declares intent to seek bonds for new WES generation facility
Summary
The council passed a resolution authorizing the city to exercise municipal power-agency powers and to begin the bonding process for a new generation facility at the West Substation (WES), expected to support the local utility and provide grid capacity under a 20-year contract with the wholesale supplier.
The New Prague City Council on Monday approved a resolution declaring intent to exercise the powers of a municipal power agency and to begin the bonding process for a new generation facility at the West Substation, known as WES.
Bruce Reimers briefed the council on the project, which the New Prague Utilities Commission has been developing in partnership with Simpa, the city’s wholesale power provider. Reimers said the project will address local capacity needs and also provide generation to the wider grid under a 20‑year capacity contract with the wholesale supplier.
"This project will probably need the bonding to be completed either really late here in 2026 or '27," Reimers said, explaining staff are working with municipal advisor Ehlers and bond counsel (referenced in the packet) to prepare the financing. He asked the council to authorize publication of the city's intent to bond so the city will be ready to proceed if timing or rates change.
Councilor Rick Seiler seconded the motion to adopt the resolution. Chair called the vote and it passed 4-0.
Staff said Rebecca from Ehlers was online to answer questions. The resolution authorizes the utilities commission to proceed with the necessary steps to issue bonds and directs staff to publish the required notices to meet statutory bonding timelines.
