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Lake City News

Lake City Report - April 16, 2010
Money and waste water top the list

From City Manager Wendell Johnson

City Budget for FY 2011

City Manager Johnson: I encourage the public to attend all budget meetings and city council meetings. We have staff available to answer your questions and Lake City values your contribution.

The City Council initiated the budget review process for Fiscal Year 2011 with its first workshop on March 29, 2010.  The next workshop is scheduled for 6:00 p.m., Monday, April 19, 2010. The agenda will include a Mid-year Budget Report and discussion of Budget Enhancement Topics. (This report will be linked when available)

City Bond Issues

The Sales Tax and Utility Bond issue is progressing as planned. For information, there are two main objectives with this initiative: First --  to generate approximately $1.5 million in new revenue for “General Fund” Capital Improvements; Second -- to repackage the City’s “existing” Utility Debt and at the same time, leverage approval of the $18 million needed to fund the new Waste Water Treatment Plant. 

The Financial Consultant has been responding to questions concerning the Request for Funding Proposals, which are due on Monday, April 19, 2010.  It is anticipated that the City will receive between 8 and 10 proposals.

The City’s Bond Counsel has sent a letter to the FDEP requesting consent on the refunding and new money utility bonds.

 Bond Council has prepared the necessary sales tax and utility Bond Resolutions, which will be presented for Council consideration on May 3, 2010.

Kicklighter Waste Water Treatment Plant (WWTP)

The Staff is moving forward with finalizing the Engineer's Report by late May to early June.

We are on a fast track to structure the bond issue and lock in the interest rates as quickly as possible.

Soon, the Staff will advertise the Request for Proposals for Engineering Services to prepare the Final Design of the WWTP. This work is expected to start during mid-to-late June 2010.

All elements of the funding and design process should come together accordingly to allow the City to begin construction on the new WWTP in early 2010. 

The City Staff Report is available in pdf format here.

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Read the City Manager's 2010 Budget and Administrative Report • here.


City Staff Report
 • Week ending April 16, 2010