Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Water Infrastructure topic
No spam. Unsubscribe anytime.
Canandaigua council authorizes up to $15.5 million bond for water treatment plant improvements
Summary
The Canandaigua City Council unanimously approved a bond resolution authorizing up to $15.5 million to fund Phase II improvements at the city’s Water Treatment Plant, delegating financing authority to the City Treasurer and noting expected grant support and a 40-year usefulness period.
The Canandaigua City Council on May 18 unanimously adopted a bond resolution authorizing up to $15,500,000 in serial bonds or bond anticipation notes to finance Phase II improvements at the city’s Water Treatment Plant. The measure passed on a roll-call vote of 9-0 after a motion by Councilmember Donna Cator and a second from Councilmember-at-Large J.T. Squires.
The resolution references a December 15, 2023 engineering evaluation by GHD and earlier environmental reviews under the State Environmental Quality Review Act (resolutions 2024-129 and 2024-143), which the council recorded as finding no significant adverse environmental impacts. The council appropriated the $15.5 million as the maximum estimated project cost and specified that financing may include bonds, bond anticipation notes, and the application of state or federal grant funds, including possible financing through the New York State Environmental Facilities Corporation.
The resolution sets the period of probable usefulness for the project at 40 years and pledges the city’s faith and credit for timely payment of principal and interest. It delegates to the City Treasurer the authority to determine bond terms, execute project financing and loan agreements, and enter into continuing disclosure undertakings and any agreements necessary to effectuate the financing, including issuance to the New York State Environmental Facilities Corporation.
Council members emphasized that grants and state financing may reduce the local tax burden by offsetting borrowing costs; the resolution also notes the city may levy taxes on taxable real property to pay debt service if needed. No public debate or amendments to the text were recorded in the minutes. The resolution took effect immediately and the City Clerk was directed to publish the notice as required by law.
Next steps: the City Treasurer is authorized to finalize financing documents and pursue grant and loan opportunities referenced in the resolution.
