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Altamont council adopts Ordinance 664 to issue general obligation bonds
Summary
The City Council approved Ordinance 664 authorizing General Obligation Bonds from Central States Capital Markets; the ordinance passed unanimously by roll call. Council indicated the bonds relate to sewer financing after a presentation by a financial representative.
The Altamont City Council on June 26 adopted Ordinance 664 authorizing the issuance of general obligation bonds from Central States Capital Markets under the terms noted in Exhibit B. The measure passed by roll call vote: Councilmembers Sykes, Julich, Sellers and Council President Kyle Wiford all voted yes.
Joey McLiney of McLiney and Company appeared before the council to discuss the sewer bonds; the minutes record his presentation but do not include further detail on dollar amounts or repayment terms. The adoption of Ordinance 664 authorizes city officials to proceed with the financing steps described in Central States’ Exhibit B. The council did not record any opposing votes or abstentions on the ordinance.
Next steps recorded in the minutes include authorization for city officials to work with the bond underwriter and execute required documents as provided in the bond documentation. The minutes do not specify a closing date or a total principal amount in this record.
