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Winter Garden approves up to $80 million in water and wastewater revenue bonds
Summary
The City Commission unanimously approved Resolution 25-04 authorizing issuance of up to $80,000,000 in Water and Wastewater Revenue Bonds, Series 2025, to fund capital improvements and refinance related indebtedness for the city’s utility system.
The Winter Garden City Commission unanimously approved Resolution 25-04 on March 13, 2025, authorizing the issuance of not more than $80,000,000 in Water and Wastewater Revenue Bonds, Series 2025, to finance and reimburse costs of capital improvements to the city’s water and wastewater utility system.
Finance Director Laura Zielonka told the commission the resolution defines the bonds’ terms and the rights of bondholders, authorizes a negotiated sale of the Series 2025 bonds and delegates certain execution authority to the City Manager, including entering a purchase contract and paying agent and registrar agreement. The resolution specifies payment from net revenues of the water and wastewater system and permits issuance of additional bonds from time to time for acquisition, construction, and refinancing related to the system.
Commissioner Colin Sharman moved to approve Resolution 25-04; Commissioner Lisa L. Bennett seconded and the motion carried unanimously, 5-0. The resolution also delegates to the City Manager the discretion to determine whether to use municipal bond insurance and whether to fund a reserve account for the series.
