FRONTENAC — The Frontenac City Council began its regular meeting with information about its upcoming water project Wednesday.
George K. Baum and Company Vice President Todd Burrus discussed future financing options with the council — including the difference between United States Department of Agriculture funds and general obligation bonds.
City Administrator Brad Reams said he wanted the council to know about all possible options, and that the council asked good questions.
“I want to ensure the governing body knows all of its options as we get closer to settling on a way to finance our pretty large water project,” Reams said. “I’m also working to establish a bond rating for the city.”
A bond rating makes it more appealing for organizations to take on the city’s bonds.
Kramer Consulting — which is managing ongoing sewer projects for the city — presented an amended services agreement. Reams said the agreement allowed the city to remove one project from the contract, and add others. This was made possible by cost savings on past projects.
“The added projects are going to help a lot of citizens in problem areas,” Reams said. “Approving the amended agreement allows Kramer to begin design on these projects.”
The council approved the agreement, which is still expected to come in around $150,000 under the loan limit for the project.
Reams reported that he continues to work with USD 249 on a semi-joint water project. The school district plans to extend gutters under its west parking lot to better move water away from the school. Reams said the city plans to coordinate to tie the rainwater into water lines along Crawford Street to further move the water out.
The council scheduled a budget work session for July 10. The session will give department heads a chance to present and receive feedback from the council. Reams said it will be used as the final polishing of the budget before the city’s budget hearing — scheduled for August 7.
— Chance Hoener is a staff writer for the Morning Sun. He can be emailed at firstname.lastname@example.org or follow him on Twitter @ReporterChance.