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Council declares intent to reimburse sewer fund for Highland Road lining project
Summary
Twinsburg City Council adopted Resolution 77-20-25 declaring the city's intent to reimburse its sewer fund for the Highland Road sanitary-lining project with proceeds of tax-exempt debt issued by the state of Ohio.
Twinsburg City Council adopted Resolution 77-20-25, declaring the official intent and reasonable expectation of the city to reimburse its sewer fund for costs related to the Highland Road sanitary-lining project with proceeds of tax-exempt debt of the state of Ohio.
Council suspended the three-reading rule and approved the resolution as an emergency by a unanimous 6-0 vote. The resolution records the city's financing intent and is a procedural step commonly used to preserve reimbursement eligibility for capital expenditures when the city later issues tax-exempt debt.
The resolution does not itself issue debt or identify a bond sale schedule; it records intent to reimburse eligible sewer-fund expenditures and directs staff to proceed with financing preparations consistent with applicable Ohio law and city finance procedures.
