City looks at financing options

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The Madisonville City Council directed City Manager Camilla Viator to pursue a different option to help fund several projects for the city’s Water Department.

At the council’s regular meeting Monday, Viator discussed the possibility of approved certificates of obligation, which will allow the city to replace a failing lift station in the east part of town, and then will fold in a project to replace water meters throughout the town.

This process would provide for a better interest rate for the city, and would allow the city to save money annually on loan payments, as well as start the project in February.

The city has plans to replace all water meters with AMI smart meters, which will improve the city’s water delivery as well as save money by detecting leaks or other problems.

The council will approve a resolution for the financing at its next meeting.

In other business, the city:

•approved a contract with Amazing Grants Inc. to administer a $275,000 Texas Community Development Block Grant for sewer improvements;

•approved a contract with O’Malley Strand Associates for engineering work involved with the grant;

•appointed Viator as a designated Civil Rights representative;

•approved the abandonment of Hagaman Estates to allow a sale; and

•approved an ordinance amending the budget for fiscal year 2016-2017.

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