Upcoming Decision on City Bonds
Posted on June 3, 2024
What to Expect at the June 5th Common Council Meeting
What’s Happening: The City of Utica is considering issuing $22,750,000 in bonds to fund important sewer system improvements. This money will go towards upgrading our sanitary and storm sewers, as well as drainage facilities.
Key Details:
- Project Cost: The total estimated cost for these sewer improvements is $22,750,000.
- Funding: The city plans to raise this money by issuing bonds, which are like loans that the city will pay back over time.
- Use of Funds: The funds will cover various projects to reconstruct and improve our sewer system, including necessary land purchases and equipment.
- Grants: Any federal or state grants received will help reduce the amount we need to borrow.
- Repayment: The bonds will be paid back over 40 years through city taxes.
Next Steps:
- The City Comptroller will handle the sale and management of these bonds.
- The Common Council will vote on this bond ordinance. At least two-thirds of the Council members must approve it for it to pass.
Why It Matters: Improving our sewer system is crucial for public health and safety. These upgrades will help prevent issues like sewer overflows and improve drainage throughout the city.
Residents are encouraged to attend the Common Council meeting on June 5th to learn more and share their opinions.
Additional Agenda Items for June 5th Common Council Meeting:
- Juneteenth Meeting Change:
- Resolution to reschedule the Common Council meeting originally set for June 19th in observance of Juneteenth.
- Proclamation for John Frazier:
- Recognition and celebration of John Frazier’s contributions and his upcoming 100th birthday.
- July and August Council Dates:
- Scheduling the Common Council meetings for July and August.
- Authorization for Sale of Beer and Wine:
- Approval for Mary, Mother of Our Savior Parish to sell beer and wine during their Annual Bazaar event at the end of August.
Stay tuned for more updates and opportunities to get involved in our community.