City Council live: $55 million in bonds

The City Council just unanimously authorized issuing $55 million in bonds to help finance the rest of the Delta Water Supply Project. The city already had allocated the bulk of the funding for the $217 million public works project, and tonight’s approval helps cover the project’s remaining balance.

Now it’s on to an update on the massive construction project. Municipal Utilities Director Mark Madison addressed the council.

“Let’s get to the fun part,” said a smiling Madison, who is known for being a little long-winded.

Councilman Dale Fritchen: “You’re giving us the evil look.”

The project is rolling ahead and is aiming to become operational in 2012.

Other points made tonight: The project has 126 full time jobs on average. with 60 percent hired through local unions. The city estimates the work has injected $35 million into the local economy so far. There have been no major accidents or injuries despite tens of thousands of hours worked.

Madison added the city has received a $12.5 million grant to help finance the project’s remaining costs.

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