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Officials flag $500,000 estimated need to bond for open water and sewer projects
Summary
Finance staff noted several open water and sewer projects will require bond resolutions at an upcoming meeting and estimated roughly $500,000 in additional bonding after grant awards; a previously passed bond for a large filtration plant was referenced in the memo.
Laura, speaking for finance, told trustees that bond resolutions for open water and sewer projects will be presented at the next meeting. She said the village already passed a large bond months earlier covering a filtration plant and estimated roughly $500,000 may need to be bonded for remaining open projects after anticipated grant receipts.
Laura said the projects reflect an ongoing consent order and are existing capital items previously approved; she did not present a final bond resolution at the work session but indicated the list appears in the circulated memo and will be included on the next meeting's agenda.
Next steps: bond resolutions for the identified water and sewer projects will be presented for approval at the upcoming meeting; staff will provide final estimates when grant outcomes and project expenses are finalized.
