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Council opposes bonding for water projects, asks staff for hybrid funding scenarios
Summary
At the Oct. 21 work session, Finance Director Peter Anjewierden reviewed Water Fund materials; the council indicated it did not want to bond for water projects and asked staff to return with hybrid scenarios combining transfers and rate increases.
Finance Director Peter Anjewierden led a review of the Water Fund and accompanying visuals at the Oct. 21 South Ogden City Council work session. The council signaled it did not want to pursue bonding for water projects and asked staff to explore alternatives.
"During the discussion, the council indicated that they did not want to bond for water projects," the minutes state; council members asked staff to return with hybrid scenarios that would combine internal fund transfers and increases in water rates to bolster the fund. The presentation materials are noted in the minutes as Attachment A.
The discussion did not include specific project cost figures or a proposed rate schedule; council members directed staff to prepare comparative scenarios for future consideration. No formal motion to adopt a financing plan occurred during the work session, and the minutes do not record amounts or a timeline for any planned capital projects.
Staff next steps: prepare hybrid funding scenarios (fund transfers plus rate options) and present them at a future meeting for council consideration.
