Greeley council approves stormwater financing reimbursement resolution

The Greeley City Council voted Tuesday to approve a resolution declaring the city’s intent to reimburse certain stormwater system capital costs with proceeds from one or more future tax-exempt financings. The action was part of the consent agenda at the July 7 meeting. In plain terms, the resolution allows the city to pay for eligible stormwater expenditures and later reimburse itself if it issues tax-exempt debt for those costs.

The measure, listed as Item 14, covered capital expenditures already undertaken or still to be undertaken in connection with the city’s stormwater system. The agenda description said the resolution identifies those capital expenditures and addresses related matters tied to the planned financing.

Council members did not pull Item 14 for separate discussion. Ward III Council Member Johnny Olson asked whether any consent agenda items should be removed, and Ward I Council Member Craig Huddleston requested that Item 13 be pulled. The council then moved to approve the consent agenda with Item 13 excluded, leaving the stormwater reimbursement resolution among the items approved together.