City Can Borrow To Improve Utilities
Council OKs Ordinance To Borrow Up To $2.5 Million
August 10, 2023
A public hearing was opened at 5:03 p.m. during the Kimball City Council meeting Aug. 1 for public comment on Ordinance 823, which authorizes the city to borrow not more than $2.5 million for the purposes of financing improvements and expansion of the city’s electric system and other improvements to the city’s combined utilities system.
Scott Keene from Piper Sandler, a bonding company for this project, told the council members that the city had “plenty of capacity to take on new debt.”
Ordinance 823 was approved by a 4-0 vote.
In other business, the final water study was submitte...