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Commission approves up to $130 million utilities revenue bonds for infrastructure upgrades
Summary
The commission adopted Ordinance 28-25 authorizing the Utilities Commission to issue up to $130 million in revenue certificates to fund transmission, water treatment, lift station, and AMI metering projects; Utilities CEO Efren Chavez described priorities and said spending of prior bond proceeds was completed in fiscal 2024.
The City Commission adopted Ordinance 28-25 to allow the Utilities Commission to issue system revenue bonds in an amount not to exceed $130,000,000 to fund a five-year capital program. Efren Chavez, CEO of the Utilities Commission, told the commission the request follows a successful 2020 issuance of $65,000,000 and would fund projects including a South Causeway subtransmission electric line, a transmission loop connecting airport and Field Street substations, a water-treatment pellet softening process, and lift-station improvements. "This is for our continued reliability and resiliency of our infrastructure for the long term benefit of our customers and employees," Chavez said.
Chavez also said the utility plans to implement AMI (advanced metering infrastructure) for electric meters within the next year and that staff is balancing project timing with customer rate impacts. Commissioners asked whether fluoride-related equipment or costs were included in the bond; Chavez said they were not and that recent state legislation affects local fluoridation decisions. The ordinance passed on unanimous roll call.
