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Hamilton board reviews street-improvement schedule, readies bonds at 4.69% interest
Summary
City Administrator Lauren Dannar told the Board of Aldermen that Phase 1 contractor approval is scheduled for Sept. 10, 2025, bonds are ready to be sold at a reported 4.69% interest rate, and Phase 2 will go to bid in Sept./Oct. 2025 with construction planned in 2026.
City Administrator Lauren Dannar updated the Hamilton Board of Aldermen on the two-phase street improvement project during the Aug. 26 meeting, saying contractor approval for Phase 1 is scheduled for the Sept. 10 regular meeting and that bonds to fund the work are "ready to be sold" at an interest rate Dannar reported as 4.69 percent. Dannar also said the board will need to set up a reserve fund and that a special meeting will be scheduled for bond approval.
Dannar said Phase 2 is expected to be advertised for bids in September or October 2025, with construction slated to begin in 2026 and a separate bond sale anticipated to fund that phase. The update noted that the board will return on Sept. 10 to consider a contractor for Phase 1.
The board did not debate or vote on a contractor or on bond issuance at the Aug. 26 meeting; those actions were described as upcoming steps. No project scope, contract amounts or detailed budgetary impacts were provided in the transcript.
