The Norwalk City Council on Thursday held a public hearing and approved a resolution authorizing staff to proceed with a water-revenue loan and disbursement agreement to finance a new water tower project.

City staff opened the public hearing at 6:12 p.m. and said the agenda packet contains the funding options and required steps for using the program identified in the packet. "This is just Jean finding the best, most economical way for us to fund her water tower project," a staff member said during the hearing.

There were no oral or written public comments. A resident asked how long construction is expected to take, and staff said the contractor is designing the unique tower and completing final clearances. "We're hoping construction beginning in the spring. If we're lucky, it'll be done next fall, but it's probably spring of 20 seventh," a staff member said.

Following the hearing, a motion to approve the resolution (Option 1 as presented) passed. Council member Coole moved the motion, and Council member Meineke seconded it. City staff called the roll and recorded affirmative votes from the members present.

Staff indicated the agreement and loan are standard financing steps in the city's process for funding utility capital projects and that the matter will return in the grant/loan closing process for final administrative steps. No additional public comment was received at the hearing.

The action taken was to approve the resolution authorizing the city to proceed with the water-revenue loan and disbursement agreement; staff will proceed with the financing steps described in the agenda materials.