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South Jacksonville board approves ordinance to issue up to $13 million in waterworks revenue bonds
Summary
The Village of South Jacksonville approved an ordinance authorizing up to $13 million in waterworks and sewerage revenue bonds to fund water system improvements, with officials saying the proceeds will primarily address lead service-line replacements.
The Village of South Jacksonville Board of Trustees voted unanimously to approve an ordinance authorizing the incurring of a loan and issuance of waterworks and sewerage revenue bonds in an aggregate principal amount not to exceed $13,000,000 to fund improvements to the village water system. President Richard Samples told trustees the financing is aimed primarily at replacing lead service lines, not sewer work: "this is not for the sewer system, it is primarily for the lead lines."
Trustee Christina Butler moved to approve the ordinance and Trustee Michael Preston seconded; a roll call vote showed unanimous approval. The ordinance text and financing details were in the board packet; the motion passed with no recorded abstentions. The board did not discuss a final bond structure or repayment schedule during the meeting, and trustees directed staff to continue work with financing and engineering advisers before future action.
The approved authorization allows the village to issue revenue bonds up to the stated amount; officials said exact amounts, timing and loan terms will be determined through subsequent financing steps and staff recommendations. Provenance: the matter was introduced and debated during the special board meeting and passed on the same night.
