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Washington council authorizes nearly $10 million financing for AMI meter software and capital
Summary
The council authorized pursuing a 59-month installment financing arrangement totaling $9,976,393 to cover AMI meter software and general fund capital; construction is planned to begin mid- to late summer and take about 18 months.
The Washington City Council voted Jan. 13 to authorize the city to pursue 59-month installment financing for advanced metering infrastructure (AMI) meter software and related general fund capital, approving financing totaling $9,976,393.
City staff reported the estimated cost of the AMI meter software system for the electric, water and sewer meters is $9,491,388 and that previously budgeted general fund capital totals $485,005, producing the $9,976,393 figure the council authorized. The project’s construction is expected to begin in mid- to late summer and take approximately 18 months, according to the minutes.
Mayor Pro tem Anthony Tyre moved to authorize pursuit of the financing; Councilmember William Pitt seconded. The motion passed with recorded approval from council members.
The minutes do not detail loan terms beyond the 59-month structure; staff will need to return with financing documents and implementation schedules for the project. The action authorizes city staff to pursue financing but does not itself execute a loan agreement.
