Ferris approves issuance of $3,500,000 municipal bonds

FERRIS – In an effort to resolve on-going water issues, the Ferris City Council authorized the publication of certificates of obligation (municipal bonds) Monday night.

The amount is not to exceed $3,500,000, and is meant to improve and extend the city’s water and wastewater system, as well as for the professional services rendered.

Council took further steps by approving a water and wastewater study for the city of Ferris using Willdan Financial Services.

With more development on the horizon for the city, council agreed to the $19,000 study. In the future, this study will help determine key infrastructure improvements needed along with appropriate water rate structures.

Willdan Financial Services is an economic and financial consulting firm with offices in Plano and throughout the country.

The company’s focus includes national, state and local government accounts with years of experience in water, wastewater utility operations and economic and financial management services.

A resolution passed authorizing the creation of the Wood-stone Public Improvement District (PID).

The creation of a city PID will finance public improvements – including water infrastructure – with no cost to Ferris taxpayers.

The resolution states the estimated costs for the public improvements are in the amount of $1,000,000.

This includes landscaping, the erection of fountains, lighting and signs, sidewalk maintenance, traffic lights, retaining walls, landscaping, lighting and rights-of-way, to name a few.

The boundaries of the Wood-stone Public Improvement District are located at the intersection of North Birch Street and Wolf Springs Road West.

The council also passed an agreement for public improvement district administration services by P3Works for the Wood-stone PID, which includes the management of the taxing district.

Then, council approved Gallagher Construction as the program manager for all new Ferris capital improvement projects. The company will manage all costs across the board versus different entities being responsible for each.

A 5-0 vote passed to allow the contract to expire for the outdoor board at the corner of S. Central and 6th street.

The original agreement terms stated when the outdoor board was erected at the corner of 8th Street and I-45, Primary Media would take down the outdoor board located in town.

Primary Media wanted to negotiate a plan to allow the sign to stay up, but it was effectively voted down, and the structure will be dismantled.

City Manager Brooks Williams and Finance Director Suzanne Negron-Paez were directed by a unanimous vote to implement a Ferris Performance Pay Plan.

This pay plan will address the restructuring of job titles at City Hall and create reviews based on performance, while also determining job pay rates that are competitive with other cities in an effort to attract and retain talent.

Council said yes to combine the responsibilities of the Fire Marshall into the Fire Chief’s job duties, then James Branch, the city’s new Assistant City Manager and Economic Development Commission Director was introduced by Ferris City Manager Brooks Williams.