Council To Consider Bonding

The City of Hastings is proposing to finance the construction of a Public Works facility through the issuance of General Obligation Capital Improvement Plan Bonds. As part of the issuing process, the City is required to hold a public hearing to receive public comment prior to the consideration of approval of a Capital Improvement Plan. The public hearing notice was published on Thursday, February3rd. The City will hold the public hearing at Tuesday’s meeting, and after the hearing, if the Council wishes, it can approve the capital improvement plan for the new Public Works Storage Facility. If approved, the City will issue CIP Bonds to help finance the $2,250,000 project. In April, the Council would determine the amount of the project to finance through the CIP bonds and the amount of the project to cover with cash on-hand.

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