Morgans Run Water Extension and Utility Revenue Bonds
At a glance
What: ordinances to finance and build a water line extension to Morgans Run through Series 2026A utility revenue bonds.
Where it stands: First reading was on 2026-09-15. On 2026-10-06 the public hearing and second readings were approved 7-0 (the bond ordinance was moved to third reading and the project ordinance was approved). The 2026-10-20 agenda listed the bond ordinance for third reading plus draw and supplemental resolutions; that outcome was not read.
Next: confirm the 2026-10-20 result when its minutes post.
Details
The 2026-09-15 agenda listed first readings of the Series 2026A utility revenue bonds ordinance and the Morgans Run water extension ordinance.
The 2026-10-06 minutes record approval by consensus of the 2026-09-15 minutes.
The 2026-10-20 regular agenda was read; the special meeting agenda and packet were not.
First readings of both ordinances passed 6-0. Bond counsel put the project at about $3.8 million, mostly grants ($3.3 million abandoned mine lands, about $500,000 Infrastructure and Jobs Development Council), with a loan currently estimated at $721,000 and bonds authorized up to $1.7 million. Bids open September 29. Debt service would be paid by a customer surcharge in the project area, with a surcharge ordinance expected around November 2027. A councilor asked whether residents could afford the surcharge if costs rise; the utility board said it would go back to residents.
Public hearing held. Project cost came in at about $2.87 million, down from $4.6 million anticipated; the current surcharge is $77.13 and would be recalculated if customers are added. Council approved the bond ordinance and the project ordinance on second reading, 7-0; a third reading of the bond ordinance follows in late October.
Public hearing held, no speakers. Third reading of the Series 2026A bond ordinance, the draw resolution and the supplemental resolution were approved on the consent agenda.