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Council authorizes staff to pursue sale of GO bonds to fund parks, streets and Plum Creek work
Summary
The council authorized staff to proceed with a public sale of general obligation bonds (GO Bonds 2026A) to finance a package of capital projects including Zoo Nature Play phase 2, fairground and playground work, sidewalks and street programs, waterline and Plum Creek infrastructure.
The Hutchinson City Council authorized staff to move forward with a public sale of general obligation bonds (GO Bonds 2026A) to finance several capital projects.
Angela Richard, the city’s director of finance, told the council staff expects to hold a rating call with Moody’s and to launch the bond sale on Sept. 1, with results to be presented to council that evening. She listed projects to be funded: Zoo Nature Play phase 2; Fairgrounds playground; Memorial Hall roof; the sidewalk program; the street program; Spyglass waterline; Shattuck HVAC upgrades; and Plum Creek Phase 1 including a lift station and drainage work. Richard said staff had scheduled debt service assuming an interest rate near 4.3% and hope to achieve near 4% depending on market conditions.
Council moved to adopt a resolution authorizing staff to proceed with the bond sale and authorized the mayor to sign. No members of the public spoke on the bond resolution during the meeting.
