Mineral Springs to seek funding for water tower project

The Mineral Springs City Council approved a resolution at their monthly meeting on Monday authorizing the issuance of water and sewer revenue bonds through Stephens, Inc. and Friday, Eldredge and Clark, LLP to serve as municipal advisor and bound counsel in connection with the sale of the bonds. Mayor Steve Dixon said this plan would provide the city with the needed funds for water tower repairs, as a proposal by a water system consultant last month would be too expensive to consider.

“As of now, the council has decided to go with Stephens, Inc to secure the bonds for financing our water tower project. From there, we will move on to have a study on how to finance the bonds…which will be the imposer on the water billing of Mineral Springs.”

Water rates in the city of Mineral Springs will also see an increase soon, though no action was taken by the council.