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Wabash advances sewer revenue bond ordinance for northeast sewer project
Summary
On first reading the council passed Special Ordinance No. 2-2026 to authorize sewage works revenue bonds for a northeast sewer bypass and related upgrades; staff said sewer rates will be introduced April 27 and a public hearing/adoption is scheduled for May 11.
The Wabash City Council passed first reading of Special Ordinance No. 2-2026, an ordinance to authorize the acquisition, construction and improvement of certain sewage works and to issue sewage works revenue bonds to pay project costs. The project described in the ordinance includes a northeast sewer bypass that would route flow around the east side of town, upgrades to lift stations, and replacement or relocation of the force main beneath the Wabash River to the treatment plant.
City staff told the council a pre-construction meeting is scheduled for Thursday and that the project will be publicly bid at the next Board of Works meeting. Staff also noted the ordinance includes authorization to refinance the city’s 2016 bonds if market interest rates fall to a level that would generate net savings.
“Interest rates are about 3.27% right now. You need about 2.93% to get to favorable savings to refinance those bonds,” said Tyler, a city staff member who briefed the council on the bond ordinance and timing. Tyler also outlined the schedule for rate review: sewer rate introduction will be on April 27, followed by a public hearing and possible adoption on May 11.
Council recorded a roll-call vote on the first reading; the ordinance passed that procedural step and will return for subsequent hearings and final adoption as required by local procedure.
