Posted on September 29, 2020 by iwano@_84
MONUMENT • The Monument Board of Trustees has authorized a major move to fund water improvement projects over the next three years.
At the board’s Sept. 21 meeting, they heard recommendations from town staff and special legal counsel regarding the potential for using the sale of revenue bonds to fund major improvements to its water system over the coming years.
However, instead of revenue bonds, it was recommended Monument create an ordinance to enter a site lease agreement and lease purchase agreement to market Certificates of Participation (COPs) — an alternate form of financing.
Town attorney Andrew Richey presented the finer details of the agreement, with bond counsel provided by Nate Eckloff of Piper Sandler and Kimberly Crawford of Butler Snow Law Firm. Both counsels recommended the certificates to help maximize the town’s budgetary flexibility in financing the water projects.
Presently, the town has a 2A water fund and an
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Posted on September 24, 2020 by iwano@_84
AMORY – The board of aldermen approved documents Sept. 15 presented by city attorney Sam Griffie setting the stage for raising funds through a bond for utilities work throughout Amory.
City utilities manager Mike King said after the meeting the City of Amory Electric Department is planning upgrades to the Mary Haughton and Billie Wright substations to improve electrical reliability and capacity for the entire city’s electrical system.
He continued by stating the improvements will also eliminate the 1960s-era Industrial Drive substation located alongside Puckett Drive. The entire project is anticipated to be completed within two-and-a-half years.
The improvements are to be financed through a revenue bond. The bond will be paid for with electric department revenue and will have a very minor rate impact dependent on the final amount of the bond.
Griffie’s first request was for approval of a bond engagement resolution to employ the firms of Butler
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