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Denison officials outline $3 million bond plan, seek ‘do not exceed’ cap
Summary
City staff told the council the city’s bond capacity is about $3 million and presented a draft list of projects including the wellness center, 5th Ave S reconstruction and other capital needs; staff recommended setting a 'do not exceed' borrowing cap and beginning engagement work.
City staff told the Denison City Council on Dec. 2 that the city’s bond capacity is approximately $3,000,000 and presented a draft capital list that would draw on that borrowing.
The project list presented by staff includes $650,000 for the Crawford County Wellness Center, $1,630,000 for 5th Ave S reconstruction, $168,000 for the Donna Reed Bridge, $97,791 for DQ Alley, $64,032 for a senior center roof and $261,000 for a snow plow. City Manager Garcia said Denison Municipal Utilities prefers postponing the 5th Ave S project for one year.
City Clerk/finance staff Jodie Flaherty recommended the council set a ‘‘do not exceed’’ borrowing amount, begin engagement paperwork with financing partners and narrow borrowing priorities later. Flaherty also urged councilors to examine Wheels to Heels funds and other local resources before finalizing the package.
Councilors asked staff to explore alternatives and return with narrower borrowing proposals. No formal bonding authorization or vote was taken; staff were directed to continue planning and outreach ahead of future council consideration.
