BURTON CITY COUNCIL TO VOTE ON PUBLISHING NOTICE OF INTENT TO ISSUE CERTIFICATES OF OBLIGATION
The Burton City Council will meet Tuesday to potentially take the next step in the city’s water system projects.
The council will vote on a resolution authorizing publication of the city’s notice of intent to issue combination tax and surplus revenue certificates of obligation.
Councilmembers held a workshop on December 3rd to meet with the city’s financial advisors and bond counsel regarding financing possibilities available for the city’s planned new water well.
At the meeting, James Gilley of U.S. Capitol Advisors and Gregory Miller of Bickerstaff Heath Delgado Acosta LLP answered questions and explained the process and difference between various financing options for the cost of the water well that will not be covered by the city’s grant through the Texas General Land Office.
The city has received $593,800 in grant funding, but the total cost for the project is estimated to be $1.5 million at a minimum.
The only other action item will be to approve the city’s 2025 holiday schedule.
The council will meet Tuesday at 5:30 p.m. at Burton City Hall.