Mt. Pleasant City Council approves financial adviser on water well bond

MT. PLEASANT — Mt. Pleasant Utilities is levying bond funds to build a new water well for the Mt. Pleasant area.

The project is expected to be funded almost entirely by bonds. The city will look into the actual bond sales later this year. The city has an excellent bond rating and the expensive process of bonding takes time, according to the City Administrator Brent Schliesman.

The council is looking to hire Piper Sandler to take on the process of bonding.

The council approved a motion to allow the mayor to sign an agreement with Piper Sandler to provide financial service advice on selling bond funds to create a new water well.

The council also approved a motion to approve the selling of the lot of 303 N. Jackson Street where the city had recently demolished a building.

They have informal agreements with neighbors to split the lot because it is too small to use for other purposes.