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Council warned of multi‑million dollar water projects; new tank could cost $7M–$7.6M
Summary
Officials flagged several aging water assets — PRV, an upper formation transmission line and possibly a new water tank — that together could push the city's capital needs into double digits and may require bond financing if not covered by grants or rates.
Council discussion highlighted looming water-system expenses that could outstrip the water fund's available balance. The presenter noted that while routine annual projects can be cash‑flowed, major projects such as a pressure-reducing valve (PRV) upgrade, the upper formation transmission line and a proposed additional water tank would far exceed planned revenues.
"Then that would mean our funds spout would be almost $7 million in the hole," the presenter warned when running scenarios that included a $7–7.6 million water-tank addition. Council members said those kinds of projects might force consideration of a bond or other external financing rather than relying solely on rate increases or reserves.
