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Bellingham council approves up to $19 million in bonds for new 911 dispatch facility
Summary
Council approved final reading of an ordinance authorizing up to $19 million in limited tax general obligation and refunding bonds to design, construct and equip a new 911 dispatch facility and to refund certain outstanding LTGO debt; the ordinance passed 7-0 on a roll-call vote.
The Bellingham City Council on Jan. 5 adopted an ordinance authorizing the issuance of one or more series of limited tax general obligation (LTGO) and refunding bonds in an aggregate principal amount not to exceed $19,000,000 to finance costs related to designing, constructing and equipping a 911 dispatch facility, refund certain outstanding LTGO obligations, and pay costs of issuance.
Council discussion acknowledged that the council’s authorization is a not-to-exceed figure and that the actual borrowing may be smaller depending on final project needs. Council member Michael Lilliquis noted the discussion about authorization size and said the city may float a smaller bond because the project may not require the full $19 million. The ordinance delegates authority to staff to approve the method of sale and final terms.
A roll-call vote was taken and recorded as unanimous; the clerk read member votes and the chair announced the motion passed 7-0. The ordinance delegates final sale decisions to staff and authorizes other matters related to issuance and refunding.
