Bastrop City Council approved a resolution Aug. 26 to delay action on an ordinance that would authorize the issuance of certificates of obligation worth $20 million—financing that will fund several park improvements.
The details: The delay is in response to the need to complete an annual comprehensive financial report, according to city documents.
“The city of Bastrop’s external auditors are thoroughly reviewing the financial status of the city of Bastrop, and are estimating the audit to be completed by the end of August or early September,” Bastrop Finance Director Judy Sandroussi said in a staff report.
Diving in deeper: A majority of the $20 million will be allocated to the Old Iron Bridge project, which will feature several improvements, including:
- Adding a concrete deck
- Adding steel truss components
- Installing railing
- Installing decorative lights
The outlook: Bastrop City Council will take action on an ordinance authorizing the issuance of the certificates at a meeting at 6:30 p.m. on Sept. 23, according to city documents.
|