Council gives first OK to issue $55M in bonds for water projects

City council this week gave preliminary approval to issuing up to $55 million in bonds to bolster Longmont’s water storage and delivery systems.

The bonds are part of the $80 million in water bonds approved by Longmont voters in November.  A second bond issue for the remaining portion of the $80 million will likely take place in two to four years, according to a staff report to city council.

The $55 million bond issue approved this week by council will help fund the expansion of the Nelson Flanders Water Treatment Plant from 30 million gallons per day, or mgd, to 45 mgd. The expansion is needed to provide treated drinking water to meet demands in the future, say city officials.

Bond proceeds also will replace aging water system infrastructure such as treated water storage and raw and treated water transmission lines, according to the city report.

The bond issue will be up for a public hearing and final vote March 16.