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Board holds required public hearing on proposed water infrastructure bond; no vote taken
Summary
The board conducted a legal public hearing on a proposed water system improvement bond; bond attorney Garrett Gross explained the process and trustees did not vote on issuing the bond at this meeting. A compliance document will be signed by the Chair and Clerk.
Acting GM Vince Pao-Borjigin presented slides describing the proposed water infrastructure bond, its terms, and the planned fee increases to repay it. Garrett Gross, bond counsel with Gilmore & Bell, P.C., explained that the board previously adopted a parameters resolution setting the bond’s upper limits and that a 30-day contest period had elapsed. He characterized the public hearing as a compliance step rather than a bond issuance vote.
No public comment was offered during the bond hearing. The board did not vote to issue the bond at this meeting; Chair Derek Price and Clerk David Olson will sign a document verifying public-notice and procedural compliance necessary for the bond process to proceed.
