COLUMBUS, Ind. – The Columbus City Council met Tuesday evening and approved the first reading of an authorization ordinance for the issuance of revenue bonds that would pay for several projects in the Columbus City Utilities master plan. Council also approved the first reading of an ordinance establishing rates and charges.
The waterworks revenue bonds would be for a total amount of $24,420,000.
The rate adjustment would come at the end of a year-long process during which, after a second-reading approval by the council, the proposal would be forwarded to the Indiana Regulatory Commission. The commission would examine the agency’s revenue and expenses, and if it approves the proposed rate adjustment, the new price points would go into effect in August 2021.
At the meeting, Columbus City Utilities director Scott Dompke gave a presentation to the council in which he stressed the importance of water infrastructure investment to economic development.