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Council asks staff to further study water-rate, bond financing and purchase options
Summary
After reviewing a prior Water Rate Study, the Merkel City Council asked City Manager Hitt to research financing options, cost estimates for water and sewer line replacement and potential bond issuance, and to return with recommendations next month.
Council members reviewed a Water Rate Study that had been presented at a prior joint meeting and heard City Manager Hitt outline options for financing potential water and sewer line replacement projects. Hitt discussed estimated replacement costs, bond cost breakdowns and the prospect of purchasing water from Abilene; council members asked staff to examine those options and assess which are probable and fiscally responsible.
The council did not take formal action other than to direct City Manager Hitt to continue researching options and bring proposals back to council next month. No specific bond amounts or rates were adopted at the meeting; the transcript records only that staff was instructed to return with further analysis.
