# Council authorizes up to $125 million in bonds to fund the sewer and stormwater upgrade plan

## What happened
The council approved issuing bonds for the Terre Haute Sanitary District to pay for the sewer and stormwater projects funded by the rate increase adopted earlier in the meeting, authorizing up to $125 million each in GO bonds (general obligation bonds — borrowing repaid from general tax revenue rather than a specific project's income) and revenue bonds, with the two combined never exceeding $125 million. [30:28](https://www.youtube.com/watch?v=bTaXfMFUA30&t=1828)

Bond counsel Dennis Otten told the council the city will decide case-by-case which type to issue, depending on market conditions and utility revenue at the time. [31:01](https://www.youtube.com/watch?v=bTaXfMFUA30&t=1861)

This bond authorization pairs with the sewer and stormwater rate ordinance the council adopted moments earlier in the same meeting. [29:08](https://www.youtube.com/watch?v=bTaXfMFUA30&t=1748)

## The outcome
Special Ordinance 28-2026 passed on a voice vote, first to take action and then to approve. [32:05](https://www.youtube.com/watch?v=bTaXfMFUA30&t=1925)

## Sources
- [$125 million combined bond authorization, 30:28](https://www.youtube.com/watch?v=bTaXfMFUA30&t=1828)
- [Bond counsel on case-by-case issuance, 31:01](https://www.youtube.com/watch?v=bTaXfMFUA30&t=1861)
- [Paired with the rate ordinance passed earlier the same night, 29:08](https://www.youtube.com/watch?v=bTaXfMFUA30&t=1748)
- [Vote, 32:05](https://www.youtube.com/watch?v=bTaXfMFUA30&t=1925)

*Also known as: Special Ordinance 28-2026 · sanitary district bonds · $125 million sewer bonds · GO bond Terre Haute sanitary district · revenue bond Terre Haute sanitary district*