Passed by the Highfill City Council: October 13, 2026
The Highfill City Council approved Ordinance 2026-17 on Tuesday, October 13, 2026, authorizing the City to issue and sell Water and Sewer Revenue Bonds, Series 2026, to fund significant improvements to the municipal water and sewer system. This action ensures long-term reliability and supports the growing needs of our community.
At a Glance: What This Ordinance Does
• Authorizes the issuance and sale of $12.33 million in Water and Sewer Revenue Bonds to fund critical improvements.
• Approves the purchase agreement, disclosure agreement, and supporting documents needed to issue the bonds.
• Ensures the City can complete essential water system extensions, betterments, and upgrades.
• Declares an emergency, allowing the ordinance to take effect immediately to protect public health and safety.
Summary for Residents
The City will issue bonds to finance necessary upgrades to Highfill’s water and sewer system. These improvements will help ensure safe, reliable service for residents while supporting future development. The ordinance also outlines how the City will repay the bonds using system revenues and how funds must be managed to maintain financial accountability.
Detailed Overview
Purpose of the Bonds
The City Council determined that improving Highfill’s municipal water facilities is essential to meet current and future demand. The bonds will finance extensions, betterments, and upgrades that strengthen the City’s water and sewer infrastructure.
Bond Amount and Sale
The City authorized $12,330,000 in Water and Sewer Revenue Bonds, sold to Carty, Harding & Hearn, Inc., at an agreed purchase price outlined in the approved Purchase Agreement.
Financial Structure
The ordinance details:
• How principal and interest will be paid through system revenues.
• How the bonds align with existing 2018, 2021, and 2024 series bonds.
• Procedures for bond registration, repayment schedules, and reserve requirements.
• Insurance and reserve policies that ensure secure repayment.
System Rates and Fiscal Responsibility
The City reaffirms its commitment to setting and maintaining water and sewer rates at levels that support maintenance, operations, and debt obligations. Rates may be adjusted as necessary to meet these requirements.
Emergency Clause
Because these improvements are vital for protecting the health, safety, and welfare of Highfill residents, the ordinance includes an emergency declaration, making it effective immediately upon passage.
View Ordinance 2026-17 [PDF]