Council awards $9.98 million financing for AMI meters, adopts related budget amendments

Washington City Council on Feb. 10 awarded a $9,976,393 installment purchase financing bid to First National Bank to fund the city’s advanced metering infrastructure (AMI) meter system and general fund capital needs.

The council acted on a motion by Mayor Pro tem Anthony Tyre, seconded by Councilmember Richard Brooks, that authorized the Administrative Services Director to execute documents to close the 59-month financing. The financing was previously authorized at the Jan. 13 meeting and was presented to council with two proposals; the First National Bank bid was selected.

Council also adopted a budget ordinance amendment to increase revenues and expenditures for aviation fuel sales and purchases after the recent rental of a corporate hangar that houses three jets and significantly raised jet fuel activity at the airport. The aviation fuel amendment passed on a motion by Councilmember Antwan Horton, seconded by Councilmember William Pitt.

Separately, the council adopted a grant project ordinance amendment to formally close the RCCP 4 grant/project now that associated fiscal year-end projects are complete. That amendment passed on motion of Councilmember Horton, seconded by Councilmember Brooks.

Why it matters: The AMI financing will fund citywide meter upgrades and other capital projects that city officials say are necessary for infrastructure improvements. The aviation fuel budget amendment adjusts appropriations to reflect higher-than-anticipated fuel sales tied to recent hangar rentals.

What’s next: The Administrative Services Director will complete closing paperwork for the financing; budget bookkeeping will reflect the aviation fuel revenue and expenditure increases during the current fiscal year.