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(KLZA)-- The Falls City Council voted 7-0 Monday night, passing on third and final reading an ordinance authorizing and providing for the issuance of combined utilities revenue bonds in an amount not to exceed $20 million.
The bond funds will be used to pay the costs of improvements to the city electric system.
The ordinance allowing for the sale of the bonds is seen as a key piece necessary to bring a secondary electrical transmission line to the community to provide additional electrical capacity for Falls City and it's electrical customers.
City Administrator Anthony Nussbaum noted the initial feasibility study estimated the cost for the transmission project to be from under $30 million up to $40 million depending on how the heavy the project is built, for instance wood vs. steel, the routing and various other factors.
If the transmission line project can be completed for less than the $35 million of combined grant funds and bond funds, the amount of money left could then be utilized to help upgrade the cities electric distribution system.
Council member Joe Buckminster was absent from the meeting Monday night.
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