ORD. 2025-062 · Ordinance

To cancel certain authorized but unissued bonds authorized by the City of Richmond; to authorize the issuance of public utility revenue bonds of the City of Richmond in the maximum principal amount of $384,171,453 to finance the cost of capital improvement projects of the gas, water and wastewater utilities and public utility buildings and facilities for the following purposes and uses: enlargement, extension, repair, replacement, improvement and equipping of the gas plant, gate stations, transmission, distribution and service lines and associated metering equipment; enlargement, extension, repair, replacement, improvement and equipping of the waterworks plant, pump stations, transmission, distribution and service lines and associated metering equipment; enlargement, extension, repair, replacement, improvement and equipping of the wastewater plant and intercepting lines; construction, reconstruction, repair, replacement, and improvement of sanitary and storm water sewers, pumping stations, drains and culverts; construction, reconstruction, repair, replacement, improvement and equipping of public utility buildings and facilities therefor, including but not limited to the stores division; and acquisition of real property and real property rights (including without limitation easements and rights-of-way) therefor as appropriate; to authorize the Director of Finance, with the approval of the Chief Administrative Officer, for and on behalf of the City, to sell such bonds for such capital improvement projects; to provide for the form, details and payment of such bonds; to approve the form of supplemental indenture of trust; to authorize the issuance of notes of the City in anticipation of the issuance of such bonds; and to authorize the issuance of such bonds as either federally tax-exempt bonds or federally taxable bonds, or both.