Plainview Water Revenue Bonds

Plainview’s City Council on March 10 approved a motion authorizing the issuance and awarding the sale of $3.65 million dollars General Obligation Water Revenue Bonds, Series 2026A, in regard to elevated water storage projects.

The Council awarded two contracts in October 2025 for the projects, including: Project No. 1 - Rehabilitation of the existing 500,000-gallon elevated storage tank in the amount of $663,650 to Tankez Coatings, Inc. of Fort Worth, Texas.

The Plainview News reports Project No. 2 - Construction of a new 100,000-gallon elevated storage tank in the amount of $2.89-million dollars to Maguire Iron, Inc. of Sioux Falls, South Dakota.

City Finance Director Vicki Axley said the City chose to finance a portion of this project using General Obligation Water Utility Revenue Bonds.

The remaining portion of the project will be paid with cash from the Water Fund.

She said Project No. 1 is necessary rehabilitation of the existing 32-year-old water storage tank.

Proposed improvements include complete removal and replacement of the interior wet, interior dry and exterior coating systems.

The primary purpose of Project No. 2 is to dissipate entrained gas from Well No. 3, while providing the benefit of additional elevated volume for managing summer peak demands and operation flexibility.