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Council directs staff to prepare preliminary statement for $12.5M water/wastewater bonds
Summary
Council directed the city manager to prepare a preliminary official statement and timetable for selling $12.5 million in general-obligation water and wastewater bonds to fund lift-station connection to Houston, decommissioning work, and other FY27 CIP projects.
City staff told the council they plan to sell $12,500,000 in general-obligation water and wastewater bonds in August/September to fund several capital needs including repayment of earlier HDR work orders, engineering for decommissioning the wastewater treatment plant, the lift station and force-main connection to Houston, demolition of laydown yards, and other FY27 CIP items. Assistant city manager Beth Jones explained the tranche and said a second sale of roughly $13 million is planned in August 2027 depending on spend-down of the first tranche.
Jones said the bonds would be paid from the enterprise fund (utility rates) rather than the tax rate and that the issuance timing aligns with staff’s rate-study schedule. Council members emphasized the lift station/force-main connection to Houston as the critical path item that enables decommissioning and subsequent drainage work; staff said the bonds could be reprogrammed within the water/wastewater category if priorities change.
Council voted to direct the city manager to prepare the preliminary official statement and timetable; staff indicated the funds would be deployed across multiple capital projects in FY27.
