COLUMBUS, Ind. — City officials are revising a bond ordinance on waterworks projects in order to save $3 million by working with the state.
Columbus City Council has approved the first reading of an amended ordinance authorizing the issuance of bonds to pay for water infrastructure projects. Ordinances require two readings to pass, and the council’s next meeting is set for Aug. 16.
Per the ordinance, the maximum cost of the projects is estimated to be $24.09 million. This will be financed by a combination of bonds, bond anticipation notes, cash on hand and “other legally available sources.” The ordinance states that, in order to fund the work, the city needs to issue waterworks revenue bonds in an amount no greater than $22.2 million. Bond anticipation notes not exceeding this same amount may also be necessary.
The projects covered by the $24 million estimate include new wells, wellfield improvements, water transmission main and distribution system replacements and improvements, a new water storage tower, water storage improvements, a new pumping station, removal of two existing pumping stations, water treatment plant improvements, and master plan implementation.
“It doesn’t take long to add up to $20 million, but good projects allow us to stay on track with the master plan,” said Columbus City Utilities Director Roger Kelso.
For more on this story, see Friday’s Republic.