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Alliance approves $700K sewer revenue bonds; council discusses Vactor truck amortization
Summary
Ordinance No. 3014 authorizes up to $700,000 in Sewer Revenue Bonds to fund sewer improvements and a Vactor truck; Council discussed amortization options (5–7 years) and in-house savings from the new truck, and approved the ordinance unanimously.
The Alliance City Council on Feb. 17 approved Ordinance No. 3014 to issue Sewer Revenue Bonds in an aggregate principal amount not to exceed $700,000 to fund sewer improvements and purchase equipment, including a Vactor truck. The council approved the ordinance’s first reading and suspended the three-reading requirement before Mayor McGhehey declared the ordinance passed by unanimous vote.
Austin Partridge of Northland presented financing options and specifically noted a 5- or 7-year amortization option for the Vactor truck; he also stated the city currently has no outstanding sewer revenue bonds. Public Works Director Grant said the new Vactor truck will produce “substantial cost savings” by allowing the city to perform cleaning and related work in-house rather than contracting it out. Councilman Turman requested a firm 10-year cost figure for planning purposes, while Mayor McGhehey emphasized keeping payments low to avoid a sewer-rate increase.
The ordinance directs city officials to finalize bond terms and adopt post-issuance tax compliance measures. Council voted Aye: Mashburn, Turman, Hitchcock, Yates and McGhehey; Nay: None.
