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Council approves $8.67 million Certificate of Obligation for sewer improvements
Summary
The council voted 4–0 to authorize the issuance of a Certificate of Obligation, Series 2025, in the amount of $8,670,000 to fund sewer system improvements; the motion was moved by Klay Gilbert and seconded by Robert Sharp.
The Lindsay City Council on Oct. 14 approved an ordinance authorizing the issuance of a Certificate of Obligation, Series 2025, totaling $8,670,000 to fund sewer system improvements. The motion to approve the ordinance was moved by Klay Gilbert, seconded by Robert Sharp, and passed 4–0.
Council did not record final engineering specifics or a construction timeline during the meeting; the action authorized the debt issuance mechanism. The ordinance was adopted alongside a related escrow agreement the council also approved at the same meeting.
