By Robert Nathan
Killeen Daily Herald
HARKER HEIGHTS – The City Council at 5 p.m. today will receive and discuss a presentation on the 2006-07 fiscal year city budget at City Hall.
The council will also discuss the city's third quarter investment report for the 2005-06 fiscal year.
A resolution authorizing the publication of notice to issue the certificates of obligation of upcoming capital improvement projects will also be considered.
With a nearly $17 million bond issue to be used for upcoming capital improvement projects, the council discussed the language to be used in the issuance of certificates of obligation during the July 18 workshop session. By making some of the language more flexible in its certificates of obligation, the city would not necessarily be obligated to spend money on specific items on the city's list of prioritized capital improvement projects.
Major capital improvement projects being considered include water and sewer improvements, reconstruction of a portion of Indian Trail, a new library and community center complex and improvements at the city's animal control facility.
The council approved a resolution during a May 9 meeting authorizing First Southwest Co. to begin preliminary steps to finance almost $17 million to fund the projects. The city expects to receive the money around the middle of September.
Contact Robert Nathan at email@example.com