Finance, Utilities, and Rules Committee - August 3, 2026

The City of Carmel, Indiana Finance, Utilities, and Rules Committee met on August 3, 2026, to discuss ordinances authorizing bond issuances for water and wastewater system improvements. The committee reviewed detailed project plans including water main replacements, sewer capacity upgrades, and infrastructure relocations tied to ongoing development and road projects. The water utility bond issuance was increased to approximately $9.5 million, and the wastewater bond issuance was about $25 million, both to be funded through revenue bonds secured by utility revenues without requiring rate increases. The committee received presentations on project scopes, financing strategies, bond ratings, and market conditions, including the use of negotiated bond sales to optimize costs. Both ordinances received unanimous positive recommendations to the full council. Additionally, the committee reviewed a proposed budget timeline emphasizing transparency through prerecorded department presentations and a scheduled Q&A session with the mayor and controller. The meeting concluded with discussions on budget process improvements and scheduling.