The City’s vision is to expand its utility system to eventually be equipped to service its entire allowed service area, whether it be by utility service agreements or utility acquisitions. The City’s staff has identified an opportunity to purchase the Orangewood Lakes Utility System.  On February 5, 2019, the City Council approved Resolution No. 2019-01 and No. 2019-02, which authorized the purchase of the utility system and extension of the City’s current utility system.  On the same evening, the City Council approved Resolution No. 2019-04, which allowed for the reimbursement to the W&S Fund of certain expenditures incurred in connection with the acquisition of the Orangewood Lake Utility System.

Additionally, a Water & Sewer Revenue Sufficiency Analysis was completed and presented to City Council on October 3, 2018, which called for the Water & Sewer Fund to borrow funds to cover upcoming capital improvement projects over the next few years. 

A representative from Ford & Associates, Inc., the City’s Financial Advisor, will present a summary of the City’s plan to finance these transactions, which includes the issuance of the aforementioned Bond.