BY GLYNIS CRAWFORD SMITH
THE HIGHLANDER
The Horseshoe Bay City Council voted Tuesday, May 17, to issue up to $4.9 million in certificates of obligation for improvements to the West Water Plant and acquisition of two new fire engines.
A portion of proceeds from the issuance of the certificates of obligation will be used to fund the project. Including the $1 million for fire trucks was a financial strategy.
“By issuing certificates of obligation, it is possible for the city to realize a savings in interest expense related to financing the fire engines,” said Larry O. Anderson, finance director, in his introduction.
The water plant project, estimated at $3.9 million has been planned since 2014 to ensure service to Horseshoe Bay West with about 3 million gallons of water per day.
A completion target of June 15 was delayed for two reasons.
