Finance Director Kristine Polian said the certificates of obligation will be used to fund up to $15 million of the project, which will result in a new 36-inch water line from the Hwy. 3 pump station to the South Shore pump station.
“A very large line. Obviously a very extensive project coming in just over $22 million,” she said.
According to officials, the remainder of the project will be funded by utility system revenues, not property taxes.
Council Member Larry Millican said this project has been planned for a long time to address the low water pressure part of the city experienced during the 2012 drought.
“This item is one of those redundancy things we planned years ago to improve the water pressure on the east side,” he said.
City Council will hold public hearings June 22 and July 13 on the item. The certificates are scheduled to be authorized at City Council’s July 27 meeting.