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Council ratifies Electric System revenue bonds resolution for JUICE projects
Summary
Greenville council ratified a resolution approving an ordinance for Greenville Electric System Revenue Bonds Series 2026 to fund remaining work on the city's power plant and transmission projects, with staff reporting project funding of roughly $78,000,787 and an indicated interest rate around 4.59%; council approved unanimously.
Greenville City Council voted to ratify a resolution approving an ordinance for the Greenville Electric System Revenue Bonds, Series 2026, which staff described as negotiated obligations required for electric-utility financing in ERCOT.
A staff presenter explained why the electric bonds were negotiated (pre-selected underwriters) and summarized the financing: "The interest rate on these bonds was 4.59%," the presenter stated, and staff said the proceeds would fund about $78,000,787 in projects, primarily the remaining portion of a power-plant project and related transmission debt. Council moved, seconded, and the resolution passed unanimously; staff said the bonds will close on May 28 and legal steps remain to finalize documents.
