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Council adopts resolution approving taxable sewer revenue bonds to finance wastewater Phase 2
Summary
The council moved to adopt Resolution No. 2629 approving a bond purchase agreement for taxable sewer revenue bonds series 2026 to finance the Wastewater Industrial Pretreatment Facility Phase 2 project; the resolution passed by roll call.
The Lamar City Council on May 19 adopted a resolution approving a bond purchase agreement to finance the Wastewater Industrial Pretreatment Facility Phase 2 project through issuance of taxable sewer revenue bonds series 2026.
Administration introduced the bond purchase agreement and recommended council approval. A motion to adopt Resolution No. 2629 approving the bond sale was made, seconded and carried by roll call. Council members recorded "yes" votes on the record and the chair declared the motion carried.
The meeting record does not include bond sizing details, interest rate, underwriter, or repayment schedule. Council approved the bond purchase agreement on the understanding that it will provide financing for the Phase 2 wastewater expansion project. Further finalization of bond documents and sale terms will be handled by administration and financial advisors as needed.
